Lawmakers Offer Bill to End U.S. Subsidies for Oil, Gas, Coal
The bill would end tax breaks, relief from royalty payments, and direct federal spending on fossil-fuel research and development valued at about $113 billion over 10 years, according to Sanders, a Vermont independent who often votes with Democrats, and Ellison, a Minnesota Democrat.
Paying subsidies to “hugely profitable” fossil-fuel companies is an “absurdity,” Sanders said today at a Washington news conference.
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