10 May '12, 4pm

New Bill Unveiled to Kill $113 Billion in Fossil Fuel Subsidies

New Bill Unveiled to Kill $113 Billion in Fossil Fuel Subsidies

Oil Change International/CC BY 2.0 Today, Senator Bernie Sanders (I-VT) is unveiling a bill, the "End Polluter Welfare Act," that would pretty much eliminate federal fossil fuel subsidies as we know them. The ambitious proposal would remove the seemingly bottomless well of dubious handouts for the oil, coal, and natural gas industries, and expand fossil fuels companies' responsibility to pay for energy disasters like oil spills. In total, the bill would cut $113 billion in subsidies over the next ten years. Representative Keith Ellison (D-MN) will be taking up the legislation in the house. The bill was announced today in Washington D.C., at a rally put on by 350.org . The sheer size of the proposed cuts makes this bill exceptionally commendable. Sen. Robert Menendez's subsidies-killing bill, which recently garnered majority support but fail to reach a filibuster-proof 60 v...

Full article: http://www.treehugger.com/energy-policy/new-bill-unveiled...

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