The Treasury just issued its “Green Book” explaining the White House’s proposed fiscal year 2024 budget. Current law encourages investment in the fossil fuel sector with several tax credits, deductions and other provisions. If passed, the new budget would eliminate certain tax breaks. The Biden Administration believes these preferences create a distortion of the energy market. The Green Book states: “This market distortion is detrimental to long-term energy security and is also inconsistent with the Administration’s policy of supporting a clean energy economy, reducing our reliance on oil and reducing greenhouse gas emissions.” To read the Green Book: https://bit.ly/3Lllrdk
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