End Polluter Welfare Act of 2024
The End Polluter Welfare Act of 2024 eliminates numerous subsidies and financial benefits for fossil fuel companies across multiple government programs. It increases royalty rates for coal and oil/gas extraction, prohibits federal funding for fossil fuel projects through various agencies, and repeals tax provisions that previously provided advantages to the fossil fuel industry. The bill directly affects fossil fuel producers by ending royalty relief, eliminating tax deductions and credits for fossil fuel production, and requiring them to pay higher taxes on crude oil and natural gas. Key mechanisms include terminating the Office of Fossil Energy, restricting international financial institutions from funding fossil fuel projects, and modifying tax rules to eliminate special treatment for fossil fuel producers.
Bill status
in committee
1 of 4 stages cleared
Introduction
May 2024
Committee Review
Floor Vote
President
Introduced May 23, 2024
Last action May 23, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
May 23, 2024
Senate · Referred to committee
Read twice and referred to the Committee on Finance.
May 23, 2024
Senate · Introduced
Introduced in Senate
1 primary · 6 co-sponsors
Sponsors
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