For Immediate Release
Friends of the Earth Blasts Senate Passage of Tax Package
WASHINGTON - Friends of the Earth's climate and energy tax analyst, Ben Schreiber, had the following statement in response to the $860 billion tax package that passed the Senate today:
"Friends of the Earth is deeply dismayed that the Senate followed President Obama down the path of capitulation to bad economic and environmental policies.
"Extending the Bush tax giveaways for the wealthiest two percent, significantly reducing the estate tax, and extending environmentally damaging subsidies will cost our government hundreds of billions of dollars. This tax package jeopardizes our government's ability to fund essential public programs in order to line the pockets of millionaires and boost the profit lines of some of the worst polluters.
"The Senate bill has been larded up with tax cuts to support dirty and dangerous energy sources, including petroleum, coke, natural gas and corn ethanol. The worst examples of environmentally destructive handouts are a forty-five cents per gallon tax credit to corn ethanol via the Volumetric Ethanol Excise Tax Credit (VEETC) and a fifty cents per gallon tax credit for the production of liquid coal.
"Speaker Pelosi and members of the House must prevent unfair and irresponsible giveaways to the wealthiest Americans and corporations from moving forward. Otherwise, this Congress will leave behind a legacy of wasteful spending that could inhibit our government's ability to function in the public interest."
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Friends of the Earth is the U.S. voice of the world's largest grassroots environmental network, with member groups in 77 countries. Since 1969, Friends of the Earth has fought to create a more healthy, just world.