Republican tax plan would expand oil industry subsidies and cut clean energy support

How Pharma, Oil, And Wall Street Funded Trump’s Tax Scam

Through a series of closed-door meetings, overnight votes, and empty promises, House Republicans passed a tax scheme that will kick 16 million Americans off their health care, skyrocket the cost of food, and funnel massive giveaways to Big Oil while gutting investments in clean-energy jobs. The resulting revenues will fund massive tax breaks for Republican lawmakers, their wealthy donors, and huge corporations. At its core, the bill defies logic…

Republican tax plan would expand oil industry subsidies and cut clean energy support

Senate Republicans are advancing a tax bill that would provide $18 billion in new benefits to oil and gas companies while stripping or weakening key incentives for renewable energy and electric vehicles.Nicholas Kusnetz reports for Inside Climate News.In short:The Senate Finance Committee's draft tax plan increases subsidies for fossil fuel companies, including raising tax credits for carbon capture tied to oil extraction and letting firms deduc…