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Americans For Prosperity Americans for Prosperity (AFP) and Americans for Prosperity Foundation (AFP Foundation) are committed to educating citizens about economic policy and mobilizing those citizens as advocates in the public policy process. AFP is an organization of grassroots leaders who engage citizens in the name of limited government and free markets on the local, state and federal levels. The grassroots members of AFP advocate for public policies that champion the principles of entrepreneurship and fiscal and regulatory restraint.

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When it comes to corporate welfare, the energy industry isnít shy about taking handou

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Unread 10.07.19, 01:07 PM
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When it comes to corporate welfare, the energy industry isnít shy about taking handou

10.07.19 02:00 AM

Tax*extenders*are ďtemporaryĒ*tax*breaks for well-connected companies and industries. Of course, there is nothing temporary about them: Year after year, these political favors are expected to be renewed by lawmakers, rendering them less a measure for emergency situations than a permanent fixture of the*tax*code. Nothing is so permanent as a temporary government program, as Milton Friedman once observed. The same can be said of Washingtonís*tax*extenders. And Washington has a lot of them. Just ask the energy industry. Whether itís in renewable or non-renewable energy production, Washington isnít shy about subsidizing producers and picking winners and losers in the marketplace Ė always at the expense of hardworking*taxpayers. Alternative fuels*benefits*from corporate welfare Take biofuels*ó fuel from plant matter, typically ethanol made from corn ó*which the government both mandates and subsidizes. Ethanol*tax*credits are among the most significant energy-related expenditures in terms of revenue forgone. One such*tax*credit comes from the*Energy Policy Act of 2005, which grants a 30% credit for property that dispenses alternative fuels, such as ethanol*(E85) or electricity for battery-powered vehicle charging stations.* Businesses can receive up to $30,000 in*tax*relief*from this credit. Year after year,*this*tax*credit is extended. Though*one of the*intents of these*tax*credits was to*cut down on greenhouse gas emissions,*it hasnít done that. A*2013 study*found […]

The post When it comes to corporate welfare, the energy industry isnít shy about taking handouts** appeared first on Americans for Prosperity.

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