ICYMI: Trump Promises to Give Tax Cuts to Big Oil Donors

At Fundraiser Co-Chaired by Oil Tycoon Harold Hamm, Trump Promises to Keep Wealthy Backers’ Taxes Low — All at the Expense of Working Families

Washington, D.C. — At a Trump campaign fundraiser in Palm Beach co-hosted by oil tycoon Harold Hamm and Big Oil investor John Paulson, Donald Trump promised his wealthy Big Oil backers that he’d give them huge tax breaks if re-elected. In response to the news, Climate Power’s senior advisor for oil and gas, Alex Witt, released the following statement:

“Donald Trump and Big Oil need each other. Trump needs Big Oil’s dirty money to fund his flailing campaign and cover his legal fees, and Big Oil needs Trump back in office so they can keep polluting our air and water to pad their bottom line. Trump is saying the obvious: he will give tax breaks to his wealthy Big Oil donors while hardworking families and our planet pay the price – just like he did when he was in office.” 

During Donald Trump’s presidency, oil and gas giants received a $25 billion tax break,  giving them free rein to pollute our air and water. In the first quarter of 2024 alone, oil and gas CEOs have given Trump’s campaign nearly $10 million. President Biden’s administration is making sure Big Oil finally pays its fair share in taxes on its billions in profits and is held accountable for polluting and price gouging at the pump.