Presidents budget saves taxpayers by ending harmful giveaways to fossil fuel industry

Washington, D.C. — Today, President Obama released a budget proposal for fiscal year 2014 that calls for ending billions of dollars in subsidies to the fossil fuel industry. President Obama has been calling for the repeal of these provisions since his first budget. New this year are reforms to the Department of Interior’s oil and gas management programs that would save taxpayers $2.5 billion over 10 years. Friends of the Earth President Erich Pica released the following statement in response:

“Ending subsidies for the fossil fuel industry is an important step in avoiding the worst impacts of catastrophic climate change. The president’s budget would end more than $43 billion in tax giveaways to fossil fuel companies over the next 10 years and ends another $91 billion in tax breaks that disproportionately benefit the industry. President Obama’s budget would also start to address the giveaway of valuable resources on public lands that happens every day. The American public wants these handouts to end. It is time for Congress to listen to the will of the people instead of special interests and end these wasteful subsidies.”

Contact:
Ben Schreiber, 202-222-0752, [email protected]

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Friends of the Earth fights to create a more healthy and just world. Our current campaigns focus on promoting clean energy and solutions to climate change, keeping toxic and risky technologies out of the food we eat and products we use, and protecting marine ecosystems and the people who live and work near them.