GOP climate solution doubles as oil subsidy
WASHINGTON – Republicans today unveiled four bills aimed at outlining their vision to act on climate change.
One of the proposals would make the 45Q tax credit permanent. Originally passed in 2008 and expanded recently in 2018, the credit is currently set to expire in 2022. To date, the main function of the tax credit has been as a subsidy for enhanced oil recovery.
In response, Lukas Ross, senior policy analyst with Friends of the Earth, issued the following statement:
Minority Leader McCarthy is not fooling anyone. Oil subsidies are not climate solutions. Making the 45Q tax credit permanent might make Big Oil happy, but would only lead to increased fossil fuel production.
Overt climate denial has become too politically toxic even for the GOP. Climate bills that double as favors to polluters are unacceptable from either party.
Expert contact: Lukas Ross, (202) 222-0724, [email protected]
Communications contact: Patrick Davis, (202) 222-0744, [email protected]