Eliminating tax preferences and tax credits for fossil fuels would raise $35bn over the next decade, the US Treasury Department said in a report today offering fresh details on the tax component of Biden's infrastructure proposal. The report argues that existing tax benefits for the industry exacerbate climate change by making fossil fuels cheaper, and the money would be better spent encouraging clean energy and climate resilience. "The President's tax incentives would help precipitate a shift toward cleaner energy and create high-paying jobs in green industries," the report says. Biden last week unveiled his ... (full story)