Dems Unleash Bill Targeting Fossil Fuel Tax Breaks, Subsidies

Law360 (April 15, 2021, 7:51 PM EDT) -- Democratic lawmakers on Thursday proposed legislation targeting the fossil fuel industry that would increase payments companies must make to the government, eliminate tax benefits and subsidies, and ban taxpayer-funded fossil fuel research and development.

Sen. Bernie Sanders, I-Vt., and Rep. Ilhan Omar, D-Minn., said that their bill, the "End Polluter Welfare Act," would save taxpayers up to $150 billion over the next ten years. They said the legislation backs up President Joe Biden's proposals in his American Jobs plan to eliminate subsidies for fossil fuels and to provide incentives for renewable energy and the manufacturing of technologies, such as batteries and solar...

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