Trump's allies benefit from climate subsidies

This is a China news story, published by Yahoo Finance, that relates primarily to Howard Lutnick news.

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Big oil companies

Reuters

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Trump hates Biden's climate law. His allies are making money from it

Summary

Nutrition label

73% Informative

At least seven of Trump 's close allies and fundraisers hold hundreds of millions of dollars -worth of stakes in companies that are significant beneficiaries of the tax breaks embedded in the Inflation Reduction Act .

They include Trump 's son-in-law Jared Kushner ; his former ambassador to China Terry Branstad ; and companies run by Harold Hamm and powerful booster Howard Lutnick .

Together, these people and companies hold billions of dollars in investments that qualify for the IRA’s lucrative tax credits.

Occidental is a beneficiary of the 45Q carbon capture tax credit and is a recipient of an Energy Department grant of nearly $1 billion to build a direct air capture ( DAC ) hub.

Trump 's transition team co-chair Howard Lutnick is the CEO of Cantor Fitzgerald , a major financial services firm that has made significant investments in companies that benefit from the IRA.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful