June 23, 2022

House Democrats introduce bill to end fossil fuel subsidies, give cash rebates to consumers

Reps. Sean Casten (D-Ill.), A. Donald McEachin (D-Va.) and Earl Blumenauer (D-Ore.) will introduce legislation Tuesday that would repeal 11 tax subsidies for oil and gas companies, worth $6 billion, and send a $500 cash rebate to American consumers. The bill is meant to help ease rising energy costs amid the war in Ukraine.

The People Over Petroleum Act "will lessen the pain families are feeling, stop funding petro-dictators like [Russian President] Vladimir Putin, and insulate Americans against future energy price inflation — all while accelerating our transition to clean, cheap American-made energy," Casten said in a statement.

Source: Maxine Joselow

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