A coalition of environmental and climate justice, Indigenous rights, public health, consumer, and environmental groups delivered two letters urging lawmakers to oppose including the giveaway of billions of taxpayer dollars to the fossil fuel industry in any tax bill.
This analysis explores the oil production, carbon emissions, and taxpayer cost implications of the proposed changes to Section 45Q in the U.S. tax code in S.1535 and H.R.3761.
Communities in Houston, Florida, Louisiana, Puerto Rico, and California are just beginning the long road to recovery from disasters made worse by climate change. It would seem downright irresponsible to increase taxpayer handouts to spur fossil fuel production at a time like this. But that’s exactly what’s being proposed in Washington.
f passed, Oil Change International’s forthcoming analysis reveals that this legislation would be worth up to $4.5 billion each year to the oil industry, making it the largest single federal handout to the fossil fuel industry.