Ends many government financial benefits and tax breaks for fossil fuel companies.
This bill would stop many government financial benefits for companies that produce coal, oil, and natural gas. It would end various tax breaks, increase royalty payments for drilling on public lands, and prevent federal agencies from funding fossil fuel projects. This aims to shift financial support away from fossil fuels and increase costs for the industry.
Today, fossil fuel companies benefit from various government subsidies, including royalty relief for drilling, specific tax credits and deductions, and federal funding for certain projects. After this bill, these companies would no longer receive those financial benefits, facing higher royalty rates, new taxes, and an end to many tax breaks, making fossil fuel production more costly.
HR 4714 · 119th Congress · July 23, 2025 · AI Summary by gemini-2.5-flash · 8/10
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1 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.