Reuters exclusively reports U.S. Congress launching probe into multibillion-dollar ‘clean coal’ tax credit

Reuters exclusively reported that the U.S. Congress is investigating a multibillion-dollar subsidy for chemically treated coal that is meant to reduce smokestack pollution after evidence emerged that power plants using the fuel produced more smog not less. The outcome of the probe could play a big role in whether lawmakers vote to renew the subsidy, on track to expire at the end of this year. The Government Accountability Office is examining the refined coal tax credit program which generates at least $1 billion a year for U.S. corporations, according to GAO analysts that contacted Reuters requesting information.