How much money can the US save by cutting subsidies on fossil fuel?



  1. 0 Votes

    None. Such subsidies are not money spent, but are tax breaks. So if they were eliminated or reduced, there would not be any saving of expended money. There might be some increase in revenue, but since most oil tax breaks are enjoyed by most businesses, it would also have an impact on the cost of doing business, which could result in lower profits (not just for oil companies, but all companies using these tax benefits), and therefore lower tax payments, not to mention things like lower rates of hiring.

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