John,
According to a new report from Americans for Tax Fairness and our partners at Evergreen Action, just one Trump-GOP tax cut set to expire this year handed the top six Big Oil CEOs over $15 million in personal tax breaks.[1] Now with those giveaways on the chopping block, the ultra-wealthy CEOs of ExxonMobil, Chevron, and ConocoPhillips are calling in their favors and bankrolling the GOP to make those tax cuts permanent, even if it means your electricity bill skyrockets.
If it passes the Senate, this so-called “Big Ugly Bill” will shut down over 330 solar and wind factories, kill more than 400,000 jobs, and raise your energy bills by hundreds of dollars a year.[2][3] All to keep funneling tax breaks to millionaire oil executives.
The “Big Ugly Bill” slashes the clean energy tax credits that are lowering electricity costs and creating well-paid new jobs, all while letting fossil fuel titans cash in on their contributions to the GOP. They’re trying to lock in their profits, keep polluting, and make you pay the price.
And the price is steep. New modeling shows this bill could raise energy costs for households by $400 a year. It will also push gas prices higher by gutting EV incentives, fuel economy standards, and clean manufacturing.[3] If you’re from a working family already struggling with utility bills, this bill is a direct hit. This is what they’re voting on. Now it’s up to us to stop it.
Tell your Senators to Vote NO on the Big Ugly Bill and stop tax breaks for millionaire polluters.
The fossil fuel lobby poured over $219 million into the 2024 campaign cycle alone, and this budget is their return on investment.[4]
These CEOs already got a corporate tax rate cut from 35% to 21% back in 2017. Now they want to keep the personal tax cuts too, by slashing programs that benefit working Americans and killing clean energy jobs.
Republicans claim to care about lowering costs. But this bill does the opposite. It jacks up gas and electricity prices, halts clean energy construction, and gives tax breaks to the wealthy leaders of corporations driving inflation and pollution. If passed, it would be the most destructive climate and tax policy rollback in modern history. We’re not letting them get away with it.
Reject the Big Ugly Bill and stop giving Big Oil CEOs more tax breaks while the rest of us pay higher bills.
Together, we can defeat the ultra-wealthy polluter agenda.
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] Big Oil’s Top 6 CEOs Could Have Saved Over $15 Million On Personal Returns From Just One Expiring Trump Tax Cut
[2] Impact of House Reconciliation Bill
[3] FACT SHEET: How the House Budget Bill Sabotages U.S. Energy Dominance and Raises Costs for Americans
[4] 7 Ways Republicans’ Sweeping Tax Bill Will Raise Household Costs
[5] The fossil fuel industry spent $219 million to elect the new U.S. government
