End Polluter Welfare Act of 2020
This bill limits or eliminates certain fossil fuel subsidies for oil, coal, and natural gas companies, including by
eliminating the authority of the Department of Energy to carry out the Fossil Energy Research and Development Program; expanding the definition of crude oil for purposes of the excise tax on petroleum and petroleum products to include any oil derived from a bitumen or bituminous mixture (tar sands), any liquid fuel derived from coal, and any oil derived from kerogen-bearing sources (oil shale); limiting the financial assistance that such companies may receive from programs that provide relief to businesses affected by the COVID-19 pandemic; terminating certain tax incentives relating to fossil fuels, including the percentage depletion allowance and capital gains treatment for royalties from coal; and increasing the Oil Spill Liability Trust Fund financing rate.
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