As we approach the two-year anniversary of Senator Collins’ vote for the GOP tax bill, Maine Democrats will highlight how Senator Collins put corporate special interests ahead of hardworking Mainers in a series we’re calling the “12 Days of Corporate Tax Giveaways” ☃️
Senator Collins has enjoyed the support of fossil fuel companies like Exxon throughout her career. She has accepted more than $400,000 from the oil and gas industry, including $4,000 from Exxon’s corporate PAC. In 2017, Collins returned the favor to her corporate donors by voting for the GOP tax law, which has been described as a “$6 billion gift to Exxon.” The Collins-backed law allowed Exxon to quintuple their profits and opened up the pristine Arctic Refuge to oil drilling, which had been a priority of the oil and gas industry for decades.
While the tax law gave Senator Collins’ fossil fuel industry donors massive savings and the opportunity to drill in long-protected public lands, it forced many Maine families to pay more. Tens of thousands of Mainers saw a tax hike as a result of the new law, even many Gold Star families saw their taxes go up.
“With Senator Collins’ announcement she’ll run for a fifth term, it’s even more important to give her vote on this legislation the scrutiny it deserves -- especially when it comes to the giveaways to corporations contributing to our climate crisis,” said Maine Democratic Party Executive Director Lisa Roberts. “With the Gulf of Maine warming 99 percent faster than the rest of the ocean, we need a Senator who is fighting for our environment, our health, and our future. Collins’ vote for the GOP tax bill proves that she is no longer that kind of Senator.”
After Exxon and the oil and gas industry donated thousands to Collins, the Collins-backed tax bill gave Exxon a $6 billion tax cut
Exxon has donated $4,000 to Collins’ campaigns
Exxon Has Donated $4,000 To Collins’ Reelection Campaigns. [FEC, accessed 12/4/19]
1996-Present: The Oil And Gas Industry Has Donated $400,000 To Collins’ Reelection Campaigns. [Center for Responsive Politics, accessed 12/4/19]
Collins-backed tax bill gave a $6 billion tax cut to Exxon and helped Chevron pay no corporate taxes
HEADLINE: “The Tax Cut Is A $6 Billion Gift To Exxon.” [CNN Business, 2/2/18]
HEADLINE: “Exxon Mobil Profit Quintupled After Trump Tax Cut.” [USA Today, 2/2/18]
Tax Bill Boosted Exxon Mobil’s Profit By $5.94 Billion. “Exxon Mobil's fourth-quarter profit nearly quintupled after President Trump's tax cuts gave the oil giant a big lift. Exxon reported a quarterly profit of $8.38 billion, up from $1.68 billion a year earlier. The spike came in part due to increasing oil prices and a $5.94 billion one-time boost from the tax reform package.” [USA Today, 2/2/18]
Chevron Made $4.5 Billion In Profits But Paid No Taxes, Thanks In Part To The “Magic Of The 2017 Tax Bill.” “Below, according to ITEP, is a list of the 26 companies that raked in at least $1 billion in profits but — through the magic of the 2017 tax bill, edgy accounting practices, special carveouts and corporate tax shelters — did not pay anything to the government on their earnings. […] Chevron: $4.5 billion.” [Rolling Stone, 4/15/19]
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