[Congressional Record Volume 167, Number 57 (Friday, March 26, 2021)]
[Extensions of Remarks]
[Page E309]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]





     INTRODUCTION OF THE END OIL AND GAS TAX SUBSIDIES ACT OF 2021

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                          HON. EARL BLUMENAUER

                               of oregon

                    in the house of representatives

                         Friday, March 26, 2021

  Mr. BLUMENAUER. Madam Speaker, America faces a climate crisis. This 
fact is indisputable, as is the fact that humans are primary cause of 
the changing climate. But our tax code does not reflect this, instead 
it showers billions of dollars of benefits to profitable oil and gas 
companies. Today, I introduced the End Oil and Gas Tax Subsidies Act of 
2021, legislation that would eliminate nearly a dozen of the most 
egregious tax breaks enjoyed by the oil and gas industry.
  Despite consistent profitability, fossil fuel companies receive 
billions of dollars in federal tax breaks and subsidies, which 
underwrite the costs of oil and gas production. These forgone revenues 
undermine the United States' ability to combat the climate crisis and 
invest in critical initiatives like education, housing, infrastructure, 
and healthcare. The End Oil and Gas Tax Subsidies Act of 2021 would not 
only eliminate 11 of these provisions in the tax code, it would also 
ensure the United States is no longer providing tax subsidies to oil 
and gas at the expense of clean energy, increasing the competitiveness 
of the energy industry.
  I look forward to working with my colleagues in the House and Senate 
to get this legislation enacted into law this year.

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