In 2023, tax expenditure on natural gas for consumers in the US stood at $810 million (adjusted to 2020 constant dollars). The forecasts for 2024 to 2028 suggest a decline in expenditure, reducing from $805.25 million to $787.7 million. This consistent year-on-year reduction indicates a general downward trend. The compound annual growth rate (CAGR) over the period is negative, reflecting a decrease in tax expenditure by a small percentage annually.
The future trends to watch for include potential policy changes affecting tax subsidies for natural gas, technological advancements in alternative energy sources, and shifts in consumer demand towards greener energy options, which could further reduce tax expenditures.
