TV News LIES

Wednesday, Apr 14th

Last update02:31:06 AM GMT

You are here News Energy Biden tax plan replaces fossil fuel subsidies with incentives for clean energy -U.S. Treasury

Biden tax plan replaces fossil fuel subsidies with incentives for clean energy -U.S. Treasury

E-mail Print PDF
Joe Biden energy plan

U.S. Treasury Secretary Janet Yellen on Wednesday released a tax hike plan that would replace subsidies for fossil fuel companies with incentives for production of clean energy.

The proposal is part of wider plan on taxes, which includes boosting the corporate income tax rate from 21% to 28%, linked to Biden's $2.3 trillion infrastructure package.

A Treasury Department office estimated that eliminating the subsidies for fossil fuel companies would boost government tax receipts by more than $35 billion in the coming decade.

The "Made In America" tax plan did not specify which tax breaks for fossil fuel companies would be targeted. But it said the subsidies undermine long-term energy independence and the fight against climate change and harm air and water quality in U.S. communities, especially in communities of color.

More...


Most Recent Related Stories...


Texas Won't Reduce $16 Billion In Electricity Charges From Winter Storm

Teax Utility Commission will not reduce $16b in charges In January, Dallas resident Shannon Marrs paid $257 for electricity. But after Texas suffered the worst...

Empire State Building company now powered entirely by wind

Empire State Bldg. Corp p0wered totally by wind energy The iconic Empire State Building that has crowned Midtown Manhattan since the early 1930s is now...

Texas Power Grid CEO Fired After Deadly February Blackouts

Bill Magness fired as Texas Power Grid CEOTexas’ power grid manager was fired Wednesday amid growing calls for his ouster following February’s deadly...

Drone strikes knock out half of Saudi oil capacity, 5 million barrels a day

Saudis shut down half of oil output after attackDrone strikes on Saudi Arabian oil facilities have disrupted about half of the kingdom's oil capacity,...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!