Friends of the Earth statement on revenue bill from the House Ways and Means Committee
WASHINGTON — This morning, the House Ways and Means Committee released the revenue portion of the Build Back Better Act, which does not address existing domestic fossil fuel subsidies. This is in sharp contrast to Biden’s budget proposal, as well as Chairman Wyden’s Clean Energy for America Act which was reported by the Senate Finance Committee in May. The bill does include a repeal of a tax loophole for international extraction that is estimated to raise $84.7 billion in revenue, however, domestic subsidies go untouched.
Friends of the Earth President Erich Pica issued the following statement in response:
This bill is fundamentally at odds with the President’s commitment to repeal fossil fuel subsidies. This is a failure of climate leadership that will not soon be forgotten. If Chairman Neal and Speaker Pelosi will not rise to the challenge of amending this bill, we are counting on Chairman Wyden and Leader Schumer to continue the fight where the House has surrendered.
Communications contact: Kaela Bamberger, [email protected], 202-222-0703