H. R. 8554, known as the “End Polluter Welfare Act of 2024,” aims to eliminate subsides and tax benefits for fossil-fuel production in the United States. The bill proposes changes to existing laws to increase royalties and taxes on fossil fuels, cut down on tax breaks and...
Simple Explanation
H. R. 8554 wants to stop giving money help and tax breaks to companies that use oil, gas, and coal, and instead make them pay more to help the Earth stay clean. This means making these companies pay more money if they spill oil and use the land, and trying not to let government money be used for things that help them find and use more oil, gas, and coal.