Paul Ryan could financially benefit from the legislation he wrote as part of "The Roadmap for America's Future."
I guess you can't blame the guy as he has the capital means to expand his wealth so he can live the American Dream. Ryan is one of the wealthiest representatives in the House.
Ryan's Shrewd Budget Payday
When House Budget Committee Chairman Paul Ryan unveiled the GOP blueprint for cutting government spending, he asked Americans to make sacrifices on everything from Medicare to education, while preserving lucrative tax subsidies for the booming oil, mining and energy industries.
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The financial disclosure report Ryan filed with Congress last month and made public this week shows he and his wife, Janna, own stakes in four family companies that lease land in Texas and Oklahoma to the very energy companies that benefit from the tax subsidies in Ryan's budget plan.
Ryan's father-in-law, Daniel Little, who runs the companies, told Newsweek and The Daily Beast that the family companies are currently leasing the land for mining and drilling to energy giants such as Chesapeake Energy, Devon, and XTO Energy, a recently acquired subsidiary of ExxonMobil.
Some of these firms would be eligible for portions of the $45 billion in energy tax breaks and subsidies over 10 years protected in the Wisconsin lawmaker’s proposed budget. “Those [energy developing companies] benefit a lot from these subsidies,” explained Russ Harding, an energy policy analyst with the Mackinac Center for Public Policy, when presented with the situation, without reference to Ryan. “Without those, they’re going to be less profitable.”
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“Sure, senior citizens should have to pay more for health care, but landholders like [Ryan] who lease property to big oil companies, well, their government subsidies must be protected at all costs,” says Melanie Sloan, the director of the nonpartisan Citizens for Responsibility and Ethics in Washington. “It smacks of hypocrisy.”
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Aside from the land-lease income, Ryan could also personally benefit from the package of subsidies and incentives he has fought to protect. According to a report from the Joint Committee on Taxation, Ryan himself would be eligible to recover money from the government for investments the four family companies might make in such things as machines and maintenance if they didn’t pan out on the properties and failed to generate revenue.
Stephen Comstock, a tax analyst with the American Petroleum Institute, says the provision and several others like it would be protected under Ryan’s budget.
http://www.thedailybeast.com/articles/2011/06/17/paul-ryan-s-shrewd-budget-payday-congressman-could-benefit-from-tax-breaks-he-proposes.html?om_rid=NJowYu&om_mid=_BN$0xzB8by7dGP
Is this act worse than letting the energy companies writing our country's energy policy? Is this ethical? How does this benefit Main Street America who has been asked to sacrifice under Ryan's blueprint?
Feedback?
I guess you can't blame the guy as he has the capital means to expand his wealth so he can live the American Dream. Ryan is one of the wealthiest representatives in the House.
Ryan's Shrewd Budget Payday
When House Budget Committee Chairman Paul Ryan unveiled the GOP blueprint for cutting government spending, he asked Americans to make sacrifices on everything from Medicare to education, while preserving lucrative tax subsidies for the booming oil, mining and energy industries.
<snip>
The financial disclosure report Ryan filed with Congress last month and made public this week shows he and his wife, Janna, own stakes in four family companies that lease land in Texas and Oklahoma to the very energy companies that benefit from the tax subsidies in Ryan's budget plan.
Ryan's father-in-law, Daniel Little, who runs the companies, told Newsweek and The Daily Beast that the family companies are currently leasing the land for mining and drilling to energy giants such as Chesapeake Energy, Devon, and XTO Energy, a recently acquired subsidiary of ExxonMobil.
Some of these firms would be eligible for portions of the $45 billion in energy tax breaks and subsidies over 10 years protected in the Wisconsin lawmaker’s proposed budget. “Those [energy developing companies] benefit a lot from these subsidies,” explained Russ Harding, an energy policy analyst with the Mackinac Center for Public Policy, when presented with the situation, without reference to Ryan. “Without those, they’re going to be less profitable.”
<snip>
“Sure, senior citizens should have to pay more for health care, but landholders like [Ryan] who lease property to big oil companies, well, their government subsidies must be protected at all costs,” says Melanie Sloan, the director of the nonpartisan Citizens for Responsibility and Ethics in Washington. “It smacks of hypocrisy.”
<snip>
Aside from the land-lease income, Ryan could also personally benefit from the package of subsidies and incentives he has fought to protect. According to a report from the Joint Committee on Taxation, Ryan himself would be eligible to recover money from the government for investments the four family companies might make in such things as machines and maintenance if they didn’t pan out on the properties and failed to generate revenue.
Stephen Comstock, a tax analyst with the American Petroleum Institute, says the provision and several others like it would be protected under Ryan’s budget.
http://www.thedailybeast.com/articles/2011/06/17/paul-ryan-s-shrewd-budget-payday-congressman-could-benefit-from-tax-breaks-he-proposes.html?om_rid=NJowYu&om_mid=_BN$0xzB8by7dGP
Is this act worse than letting the energy companies writing our country's energy policy? Is this ethical? How does this benefit Main Street America who has been asked to sacrifice under Ryan's blueprint?
Feedback?
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