Bill > HR4714

This bill aims to comprehensively eliminate federal subsidies and financial benefits for fossil fuel production through wide-ranging changes to tax codes, government funding, and energy policies. The End Polluter Welfare Act of 2025 would terminate various tax credits and deductions for fossil fuel companies, increase tax rates on oil and gas production, prohibit government agencies from funding fossil fuel projects, and require studies to identify additional fossil fuel subsidies. Key provisions include eliminating tax breaks for oil and gas exploration, increasing royalty rates for fossil fuel extraction on federal lands, removing liability limits for offshore drilling, preventing international financial institutions from supporting fossil fuel projects, and modifying tax treatment of foreign oil and gas income. The bill defines "fossil fuel" broadly as coal, petroleum, natural gas, and their derivatives used for fuel, and seeks to systematically dismantle financial incentives that have historically supported the fossil fuel industry. By targeting tax codes, loan programs, and government funding mechanisms, the legislation represents a comprehensive attempt to reduce government support for fossil fuel production and potentially encourage a transition to cleaner energy sources.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/4714/all-info