NEW YORK, Sept 12 — The United States should think about eliminating corporate subsidies, including to energy companies, US Deputy Treasury Secretary Wally Adeyemo said in New York yesterday.
“We want to be sure we have the money to pay for our priorities,” he told the Economic Club of New York. The proposal, which has run into big challenges in a divided Congress, came after repeated White House criticism of Big Oil for raking in record profits at a time of high consumer energy costs due to the Russian invasion of Ukraine last year.
“We can also think about what we can do to eliminate subsidies,” he said. ”None of us thinks it makes sense to subsidize energy companies in light of how they’re doing in this country. But there are probably other subsidies and other things we can do to make the budget more efficient.”