And yet the same people who support this will tell you that taxation to help poor people or provide services is “theft”.
steve-eldridge on
>THE TRUMP ADMINISTRATION has already added nearly $40 billion in new federal subsidies for oil, gas, and coal in 2025, a report released Tuesday finds, sending an additional $4 billion out the door each year for fossil fuels over the next decade. That new amount, created with the passage of the One Big Beautiful Bill Act this summer, adds on to $30.8 billion a year in preexisting subsidies for the fossil fuel industry. The report finds that the amount of public money the US will now spend on domestic fossil fuels stands at least $34.8 billion a year.
wiredmagazine on
Thanks for sharing our piece. Here’s some more context:
The Trump administration has already added nearly $40 billion in new federal subsidies for oil, gas, and coal in 2025, a report released Tuesday finds, sending an additional $4 billion out the door each year for fossil fuels over the next decade. And guess what, taxpayers are going to pay for it.
Fossil fuel companies spent millions of dollars getting Trump elected; a report puts the total number at $445 million. Companies are seeing benefits as the administration pursues an aggressive deregulatory agenda, hobbles renewable energy projects, and downplays the importance of climate change.
“The fossil fuel industry spent hundreds of millions of dollars getting Republicans and Trump elected. They then presented their wish lists. Nearly everything on those wish lists was fulfilled, and in fact, they got a bunch of additional goodies that weren’t even in those wish lists.”
3 Comments
And yet the same people who support this will tell you that taxation to help poor people or provide services is “theft”.
>THE TRUMP ADMINISTRATION has already added nearly $40 billion in new federal subsidies for oil, gas, and coal in 2025, a report released Tuesday finds, sending an additional $4 billion out the door each year for fossil fuels over the next decade. That new amount, created with the passage of the One Big Beautiful Bill Act this summer, adds on to $30.8 billion a year in preexisting subsidies for the fossil fuel industry. The report finds that the amount of public money the US will now spend on domestic fossil fuels stands at least $34.8 billion a year.
Thanks for sharing our piece. Here’s some more context:
The Trump administration has already added nearly $40 billion in new federal subsidies for oil, gas, and coal in 2025, a report released Tuesday finds, sending an additional $4 billion out the door each year for fossil fuels over the next decade. And guess what, taxpayers are going to pay for it.
Fossil fuel companies spent millions of dollars getting Trump elected; a report puts the total number at $445 million. Companies are seeing benefits as the administration pursues an aggressive deregulatory agenda, hobbles renewable energy projects, and downplays the importance of climate change.
“The fossil fuel industry spent hundreds of millions of dollars getting Republicans and Trump elected. They then presented their wish lists. Nearly everything on those wish lists was fulfilled, and in fact, they got a bunch of additional goodies that weren’t even in those wish lists.”
Read more: [https://www.wired.com/story/us-taxpayers-will-pay-billions-in-new-fossil-fuel-subsidies-thanks-to-the-big-beautiful-bill/](https://www.wired.com/story/us-taxpayers-will-pay-billions-in-new-fossil-fuel-subsidies-thanks-to-the-big-beautiful-bill/)