Treasury's Adeyemo calls for eliminating subsidies, including to energy companies

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. "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.

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.