GOP Gang of Ten Members Tax Energy & Raise Fuel Costs in States

 

GOP Gang of Ten Members Tax Energy & Raise Fuel Costs in States
Raising taxes on energy companies will not lower prices for Americans

WASHINGTON, D.C. – Today, Americans for Tax Reform (ATR) condemned the GOP “Gang of Ten” members for calling to increase taxes on energy companies and do nothing to lower the cost of fuel for Americans.

The GOP Senators have kept their energy plan secret while the House Republicans openly share the specifics of their plan with all Americans, inviting the public to join them on the House floor.  Americans for Tax Reform is calling on the Senators to admit they made a mistake in siding with tax-and-spend liberals and join their GOP colleagues in the House in calling for energy solutions that do not raise taxes.

The citizens need relief from the financial drain of high energy prices. “At a time when their constituents are paying record prices at the pump, they want to increase taxes on energy companies,” stated ATR president Grover Norquist. “Increasing taxes will always increase prices; it’s simple economics.”

The Gang of Ten plans to fund their $84 billion energy plan by repealing Section 199, the manufacturing tax credit. Section 199 provides a tax credit to domestic manufacturers in every industry, but the proposed bill will only remove the credit from energy companies.

“How can GOP Senators believe that a $30 billion tax increase on energy production will not be passed onto American energy consumers through higher prices?” inquired Norquist.  “The Republicans in the ‘Gang of Ten’ signed the Taxpayer Protection Pledge, promising not to increase taxes. They understand the negative effects of this tax hike. With $30 billion in higher taxes on energy production and another $54 billion in secret, to you and me, tax increases. They should take their names off this back-room deal.”

Congress will not solve the nation’s energy problems by interfering with the free market economy.  Any proposed legislation must not include a net tax increase, which will only increase the financial costs that already overburden the American people.