S 1167
End Polluter Welfare Act of 2021
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- Passed Senate
- Passed House
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- Became Law
Bill overview
The End Polluter Welfare Act of 2021 aims to significantly reduce government subsidies for the fossil fuel industry. It seeks to eliminate various tax breaks, restrictions on research funding, and liability protections currently benefiting oil and gas companies. Specifically, the bill targets royalty relief, limits on offshore facility liability, restrictions on international financial institution funding, and numerous tax deductions and credits related to fossil fuel production and development. It also proposes measures to increase oil spill liability and implement a more uniform amortization schedule for related expenses.
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