U.S. Treasury eyes company tax system as technique to deal with local weather change By Reuters
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen and Assistant Secretary Wally Adeyemo met with environmental groups on Friday to discuss ways to use the corporate tax system to combat climate change, a Treasury Department statement said.
Yellen discussed the importance of “using all the tools at our disposal, including tax legislation, to work towards zero net emissions,” the statement said. She noted that President Joe Biden’s proposed tax changes would begin to modernize the United States’ dealings with the fossil fuel industry by removing subsidies from the early 20th century, the statement said.
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