In a conference call yesterday, Sen. John McCain’s (R-AZ) top economic adviser, Douglas Holtz-Eakin, said McCain voted against the 2005 Energy Policy Act because it contained massive tax breaks to big oil companies. McCain’s economic plan, Holtz-Eakin claimed, would eliminate “all special tax breaks” to these oil companies, who are currently enjoying record profits. . .
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Holtz-Eakin’s claims are bogus. In reality, McCain wants to continue these “special” tax breaks to Big Oil, not stop them. McCain’s signature tax cut plan would deliver $3.8 billion to the five largest oil companies, as a recent Center for American Progress Action Fund analysis noted. . .
*While some may argue that McCain didn't "lie" because the words did not spill from his mouth, it is important to remember whose campaign Holtz-Eakin works for, and whose economic policy he constructs. The buck stops with McCain.
