RELEASE: Trump Budget Proposal Would Boost Big Oil at the Expense of Clean Energy and the Environment, CAP Analysis Says
Washington, D.C. — President Donald Trump’s budget proposal contains drastic measures that would subsidize big oil and coal companies at the expense of public health, clean energy, and outdoor places, according to a new analysis from the Center for American Progress.
The Trump budget proposes a 34 percent cut to the Environmental Protection Agency (EPA), the most to any department or agency. It would weaken enforcement of pollution laws while transferring the price of costly oil and gas cleanups to taxpayers. The plan also would slash the Department of Energy’s renewable energy and energy efficiency programs by 72 percent, while increasing funding for the department’s Office of Fossil Energy.
House members today are highlighting some of these giveaways to polluters and special interests and calling on Congress to reject Trump’s budget request.
These proposals come after oil and gas companies received billions in tax cuts at the end of last year, the analysis says. Exxon alone received $5.9 billion in tax breaks, while companies that conduct oil exploration can expect another $190 billion in profits. This week, the second-largest coal company in the country, Arch Coal, announced the new tax plan would lower their tax rate to “effectively zero.”
“The Trump administration is clearly signaling its desire to keep the United States reliant on coal, oil, and gas for generations to come,” said Erin Auel, a campaign manager for Energy and Environmental Policy at CAP. “By proposing a budget that would boost fossil fuel profits, the Trump administration is showing, yet again, where its allegiance lies – with special interests, not the American people.”
Read the analysis: “The Trump Budget Is Full of Giveaways to Coal and Oil Companies,” by Erin Auel.
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