(Office of Rep. Ilhan Omar (D-Minn.)) Rep. Ilhan Omar (D-Minn.) and Sen. Bernie Sanders (I-Vt.) together with Sen. Merkley (D-Ore.), Sen. Markey (D- Mass.) and Rep. Barragan (D-Calif.) introduced legislation to close tax loopholes and eliminate other federal subsidies for the oil, gas, and coal industries.
Right now, American taxpayers are on the hook for about $15 billion in direct federal subsidies to the fossil fuel industry. In 2019 alone, the oil, gas, and coal companies that receive these handouts spent $190 million lobbying Congress – for an over 11,000 percent return on investment. At a time when climate change is already causing devastating harm around the world, it makes no sense for Congress to continue giving away taxpayer money to the hugely profitable and highly polluting fossil fuel industry.