Treasury’s Adeyemo calls for eliminating subsidies, including to energy companies
2023.09.11 14:13
© Reuters. FILE PHOTO: Economist Adewale “Wally” Adeyemo testifies before the Senate Finance Committee during his confirmation hearing to be Deputy Secretary of the Treasury in the Dirksen Senate Office Building, in Washington, D.C., U.S., February 23, 2021. Jim Lo
(Reuters) – The United States should think about eliminating corporate subsidies, including to energy companies, U.S. Deputy Treasury Secretary Wally Adeyemo said in New York on Monday.
Adeyemo said achieving fiscal sustainability would include modest tax increases, boosting tax revenue collections and finding other ways to cut costs.
“We can also think about what we can do to eliminate subsidies,” he told the Economic Club of New York. “None of us thinks it makes sense to subsidize energy companies.” Adeyemo said there were also other subsidies that could be eliminated, but gave no details.
