Democratic lawmakers call for end to fossil fuel subsidies in $3.5-trillion infrastructure bill
Washington DC – Democratic lawmakers in the House Oversight Committee on Monday joined in demanding a stop to fossil fuel subsidies in the Build Back Better Act.
More than 50 Democrats signed the letter to House Speaker Nancy Pelosi and House Majority Leader Steny Hoyer urging them to include the repeal of fossil fuel subsidies in the bill currently being devised after the passage of the $3.5-trillion budget resolution.
The effort was led by committee chairs Ro Khanna and Carolyn Maloney, as well as Congresswoman Ilhan Omar.
Included among the signees were fellow Squad members Jamaal Bowman, Cori Bush, Alexandria Ocasio-Cortez, Ayanna Pressley, and Rashida Tlaib.
"In his fiscal year 2022 budget, President Biden committed to the inclusion of $121 billion in revenue raised from repealing fossil fuel subsidies, which includes $86 billion from tax breaks for foreign oil and gas income. We are greatly appreciative of the President’s focus on repealing these harmful and wasteful subsidies," the lawmakers wrote.
"We support a deal that sufficiently enhances climate justice, especially in repealing fossil fuel subsidies. Congress must follow through in implementing the President’s vision."
They cited the International Monetary Fund, saying the US is the second-biggest investor in fossil fuels, granting oil and gas companies $20.5 billion per year in tax subsidies and other benefits.
The letter adds that cutting subsidies would also advance racial justice goals, as Black and brown Americans are disproportionately impacted by the climate crisis.
With the UN Intergovernmental Panel on Climate Change saying there is less than a decade to make necessary reductions in carbon emissions, the Democratic representatives apparently believe it's high time the US stop granting so many special benefits to the industry that does the most damage.
Cover photo: IMAGO / ZUMA Wire