For Immediate Release

Organization Profile: 
Contact: 

Janet Redman, janet@priceofoil.org, David Turnbull, david@priceofoil.org

Statement Ahead of Trump Tax Restructuring Speech

WASHINGTON - On Wednesday afternoon, Donald Trump is scheduled to address supporters gathered at the Andeavor (formerly Tesoro) refinery in Mandan, North Dakota, about the administration’s tax restructuring proposal. Ahead of the speech, Janet Redman, US Policy Director for Oil Change International, released the following statement:

“It’s unfortunately fitting that Trump chose an oil refinery to stage his speech on ‘reforming’ the tax code. He’s railed against special interest loopholes, but Trump’s so-called energy dominance agenda relies on massive taxpayer handouts to oil, gas, and coal companies. The U.S. government already provides the fossil fuel industry with more than $20 billion in tax breaks, loopholes, and giveaways each year. No serious tax reform can can leave these fossil fuel subsidies – some of which have been around for more than 100 years – in place.

“Trump may talk a good game about putting money in the wallets of hard-working Americans, but he consistently uses his seat in the White House to line the pockets of oil and gas company executives instead. A truly pro-America tax code is one that creates good jobs for workers in the growing renewable energy sector while moving us off of fossil fuels.

“American taxpayers are dishing out tens of billions each year to float the fossil fuel industry, which in turn help to make hurricanes like Harvey and Irma even more costly in recovery dollars and in lives. This is where tax policy becomes a moral issue: Do Donald Trump and the GOP value fossil fuel industry profits or do they value the safety of American families?”

For information about how the U.S. Government subsidizes the fossil fuel industry, see Oil Change International and ODI report Empty Promises: G20 Subsidies to Oil, Gas and Coal Production – United States Country Report: https://www.odi.org/sites/odi.org.uk/files/odi-assets/publications-opinion-files/9979.pdf

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