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Legislation to End Fossil Fuel Tax Breaks Introduced by Sen. Sanders, Rep. Ellison
Legislation to End Fossil Fuel Tax Breaks Introduced by Sen. Sanders, Rep. Ellison - Senator Bernie Sanders of Vermont
Friday, November 22, 2013
Legislation to End Fossil Fuel Tax Breaks Introduced by Sen. Sanders, Rep. Ellison - Senator Bernie Sanders of Vermont
Friday, November 22, 2013
WASHINGTON, Nov. 21 As House and Senate budget negotiators look for ways to lower deficits, Sen. Bernie Sanders (I-Vt.) and Rep. Keith Ellison (D-Minn.) today introduced legislation to eliminate tax loopholes and subsidies that support the oil, gas and coal industries.
The End Polluter Welfare Act of 2013 would remove tax breaks, close loopholes, end taxpayer-funded fossil fuel research and prevent companies from escaping liability for spills or deducting cleanup costs. Under current law, these subsidies are expected to cost taxpayers more than $100 billion in the coming decade.