Fossil-fuel firms in line for billions in benefits after answering Trump’s donation call
A report by Democratic senators alleges that fossil-fuel companies received, or are set to receive, about $190bn in tax breaks and subsidies after providing substantial financial support to Donald Trump’s political campaigns and inauguration. It argues that the arrangement benefits major polluters while shifting higher energy bills, pollution-related health costs and climate damages on to American taxpayers.
The report links the industry’s estimated $201m campaign investment and $19m inauguration contribution to the appointment of 26 senior officials with backgrounds in polluting industries and policies favouring oil, gas and coal. It says new measures include a $1bn fossil-fuel subsidy fund, a permanent 20% tax deduction for oil and gas companies, exemptions from pollution controls, and the rollback of vehicle and power-sector emissions rules; the senators estimate these policies could impose at least $580bn in extra fuel costs over three decades.
- Senators allege fossil-fuel firms secured $190bn in benefits.
- Industry contributions to Trump reportedly totalled hundreds of millions.
- Critics say taxpayers will bear higher energy and pollution costs.