Trustee Elections
These are the original issues in this subcategory
- WALL STREET TAX
- PRIVATE EQUITY FUNDS
- CORPORATE WELFARE
Corporate welfare is a nickname that compares government subsidies to corporations with welfare payments to the poor. It is used to describe government subsidies of money, tax breaks or other favorable treatment for selected corporations. Studies show that about $100 billion is allocated in the federal government’s budget for all types of corporate welfare, not including tax loopholes or trade barriers. Two of the largest recipients of this aid are oil and agricultural corporations. Recent estimates put U.S. direct subsidies to the fossil fuel industry at about $35 billion per year, with 20% allocated to coal and 80% to natural gas and crude oil. Oil companies receive subsidies for oil exploration as well as for the exhaustion of oil and gas wells. Critics claim that besides wasting billions of dollars from our Treasury, these subsidies have led to a reckless search for oil in fragile environments like the deep ocean floor in the Gulf of Mexico. They say the 2010 catastrophe at the Deepwater Horizon oil drilling rig can be directly linked to oil-friendly legislation over the last 20 years.
In a recent executive order aimed at combating climate change, President Biden has directed federal agencies to eliminate all fossil fuel subsidies and seek new opportunities to spur innovation, commercialization and deployment of clean energy technologies and infrastructure.
Pending Legislation: S.1167 - End Polluter Welfare Act of 2021
Sponsor: Sen. Bernard Sanders (VT)
Sponsor: Senate Committee on Finance
Chair: Sen. Ron Wyden (OR)
In a recent executive order aimed at combating climate change, President Biden has directed federal agencies to eliminate all fossil fuel subsidies and seek new opportunities to spur innovation, commercialization and deployment of clean energy technologies and infrastructure.
Pending Legislation: S.1167 - End Polluter Welfare Act of 2021
Sponsor: Sen. Bernard Sanders (VT)
Sponsor: Senate Committee on Finance
Chair: Sen. Ron Wyden (OR)
- I oppose reforming corporate welfare policy and wish to donate resources to the campaign committee of Leader Charles Schumer (NY).
- I support reducing or eliminating royalty payments for oil and natural gas leases in the Outer Continental Shelf by:
1.) Increasing minimum royalty payments for coal, oil, and natural gas leases, prohibiting payment of interest upon any overpayment of royalties, and eliminating the limitation on liability for offshore facilities and pipeline operators for oil spills.
2.) Prohibiting entities to carry out any project that supports power plants that operate on fossil fuel.
3.) Prohibiting making loans to carry out projects that will use fossil fuel.
4.) Prohibiting the use of funds to award any grant or other direct assistance to any rail or port project that transports fossil fuel.
5.) Limiting or repealing provisions to allow tax incentives for investment in fossil fuels, increase the Oil Spill Liability Trust Fund financing rate, and imposing a 13% tax on the removal price of any taxable crude oil or natural gas from the Outer Continental Shelf in the Gulf of Mexico.
6.) Repealing the corporate income tax exemption for publicly traded partnerships with qualifying income and gains from activities relating to fossil fuels.
7.) Eliminating accelerated depreciation for property that is receiving a subsidy for fossil fuel production.
And wish to donate resources to the campaign committee of Sen. Ron Wyden (OR) and/or to an advocate group currently working with this issue.
- I support reducing or eliminating royalty payments for oil and natural gas leases in the Outer Continental Shelf by:
1.) Increasing minimum royalty payments for coal, oil, and natural gas leases, prohibiting payment of interest upon any overpayment of royalties, and eliminating the limitation on liability for offshore facilities and pipeline operators for oil spills.
2.) Prohibiting entities to carry out any project that supports power plants that operate on fossil fuel.
3.) Prohibiting making loans to carry out projects that will use fossil fuel.
4.) Prohibiting the use of funds to award any grant or other direct assistance to any rail or port project that transports fossil fuel.
5.) Limiting or repealing provisions to allow tax incentives for investment in fossil fuels, increase the Oil Spill Liability Trust Fund financing rate, and imposing a 13% tax on the removal price of any taxable crude oil or natural gas from the Outer Continental Shelf in the Gulf of Mexico.
6.) Repealing the corporate income tax exemption for publicly traded partnerships with qualifying income and gains from activities relating to fossil fuels.
7.) Eliminating accelerated depreciation for property that is receiving a subsidy for fossil fuel production.
And wish to donate resources to the campaign committee of Sen. Ron Wyden (OR) and/or to an advocate group currently working with this issue.
There has been $0.00 pledged in support of this issue
Trustee Election - Opening Date
September 20, 2021
Trustee Election - Closing Date
September 27, 2021