Kaine’s call to end big oil subsides…cheap stunt or genuine change of heart?
By Norman Leahy | Friday, May 13th, 2011 | Policy, Politics, VirginiaIn an effort to burnish his populist credentials, Tim Kaine has joined the Senate Democrats’ call to end tax subsidies to “big oil,” and he hopes that at least two of the Republican challengers for the seat Jim Webb is vacating will join him in the effort.
Both George Allen and Jamie Radtke stuck to their talking points about the Obama administration’s counter-productive energy policies. That’s fine, good and true. However, they neglected a golden opportunity to praise Mr. Kaine for his Road to Damascus moment on corporate welfare.
Let’s go to the tape…
During his gubernatorial term, Kaine was an ardent supporter of giving corporations taxpayer support if they would (or promised they would) create jobs in Virginia. One of his biggest corporate welfare deals involved Rolls Royce, which was promised over $56 million in state and local government support to build a plant in Chesterfield county. Virginia taxpayers will be writing checks to the company well into the next decade.
Kaine also opened the taxpayers’ wallet to lure Volkswagen to Northern Virginia (cost: $6 million). Kaine also unloaded millions of taxpayers dollars on Hilton Hotels, SAIC, and a host of others. He even helped scrappy, underdog film maker Tom Hanks shoot the HBO miniseries “John Adams.”
Kaine’s foray into corporate welfare looks positively timid compared to Gov. Bob McDonnell’s efforts. But his record is of a pol eager to claim credit for creating, saving or resurrecting jobs using the public purse to do so.
Still, let’s give Mr Kaine the benefit of the doubt. If he now believes giveaways to big corporations are uneconomical, wrong-headed and wasteful, it’s a welcome change.
And I look forward to his call to end all corporate subsidies — from green energy firms and TARP-addled banks, to government owned automakers and insurance companies.
Otherwise, Mr. Kaine is just engaging in a cheap political stunt. And he certainly wouldn’t stoop that low, would he?
(Cross-posted at Score Radio Network)
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About the author
Norm Leahy has written about Virginia and national politics online since 2002, beginning with One Man's Trash (OMT), and continuing through Bacon's Rebellion (both the blog and the e-zine), Sic Semper Tyrannis, NBC12's Decision Virginia, Richmond.com and Tertium Quids. He is the chief blogger at "The Score" and a producer of "The Score" radio show as well as being a Washington Examiner contributor.
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4 Responses to "Kaine’s call to end big oil subsides…cheap stunt or genuine change of heart?"
Norman Leahy,
I believe we are talking apples and oranges here.
The amount of tax relief provided to a corporation considering locating in Virginia might be the difference between them deciding to locate somewhere else.
However when it comes to drilling for oil, the oil companies are forced to drill where the oil is. We’re also the oil subsidies in question are not for state subsidies, but federal. No matter which state they drill in, they get the same subsidy.
Apples and oranges, and it is my opinion that oil companies do not need a tax subsidy to motivate them to drill their leases when crude oil is hovering around $100 a barrel.
Oil companies aren’t creating jobs…they are in fact shedding jobs, even while making massive profits.
Also worth noting that Kaine’s call for cutting the subsidies comes at a time when Republicans are holding an increase in the debt ceiling hostage to big spending cuts. Certainly fair game to suggest that if you want to make cuts to services to the elderly and poor, we first cut these huge unwarranted subsidies to America’s most profitable corporations. Should have thrown in farm subsidies to big agri-business firms while he was at it.
Never never never never trust Tim Kaine…..Really..NEVER
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