(New York Times)
In addressing energy prices in a speech here, Mr. Bush joined a chorus of lawmakers who have been advocating populist-sounding initiatives to respond to surges in gasoline and crude oil prices and the threat they pose to Republicans in this fall's Congressional elections. [emphasis added]The Reality:
(Washington Post)
While Republican leaders sharply criticize soaring gasoline prices and energy industry profits, GOP negotiators have decided to knock out provisions in a major tax bill that would force the oil companies to pay billions of dollars more in taxes on their profits.
* * *
The actions of Republicans hashing out a tax bill behind closed doors indicate that, despite tough talk from the White House and Capitol Hill, the party is not ready to hit the oil companies hard -- even on measures that have broad support in the Senate. [emphasis added]
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