NJ House to vote on bill permitting offshore oil drilling permits

Members of the state House of Representatives are set to vote on a bill today that would open the waters off New Jersey to oil and gas drilling permits.

The plan would allow oil companies to establish offshore rigs to drill for oil along most of the East Coast.

The majority of House Republicans say they support the bill, while some Senate Democrats say they are opposed to giving companies additional federal assistance.

U.S. Sen. Robert Menendez (D-NJ) introduced the bill to eliminate several tax breaks and subsidies for oil companies. He says there is no justification for the tax breaks oil companies currently receive.

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