US Taxpayers Will Pay Billions in New Fossil Fuel Subsidies Thanks to the Big Beautiful Bill
The report reveals that the recently enacted "Big Beautiful Bill" in the United States will provide $40 billion in new subsidies to the oil and gas industry over the next 10 years. This legislation, championed by President Trump, is expected to significantly burden American taxpayers with increased fossil fuel subsidies. The subsidies will predominantly benefit large corporations in the oil and gas sector, potentially hindering the transition towards more sustainable energy sources. Critics argue that these subsidies contradict the administration's stated goals of energy independence and reducing the country's reliance on foreign oil. The report highlights the ongoing debate surrounding the role of government support for the fossil fuel industry and the potential implications for the environment, the economy, and the broader energy landscape in the United States.
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