American Energy Yes, Taxes No
But even as some members of the House stand heroically for energy price relief, for reasons beyond my understanding, a group of Republicans in the Senate has signed on to an $85 billion tax increase disguised as an energy bill.
Last week a "Gang of 10" from the Senate - including Republican Senators Lindsey Graham, John Thune, Saxby Chambliss, Bob Corker and Johnny Isakson - announced a "sweeping" energy bill that raises taxes but does little to develop more American energy.
The fact is, if we aggressively pursue new sources of energy, we do not need a tax increase of any kind.
The combination of the following would provide significant new revenues to the federal budget without raising taxes a penny:
New revenue from licensing exploration
New royalties from new discoveries (worth billions to federal and state governments over the next 20 years)
The additional tax revenue from American jobs and American corporate profits from keeping some of the $700 billion a year we currently send overseas here at home
The additional tax revenue from increased profits as lower energy costs enable American companies to be more profitable
The savings to the U.S. government as the largest purchaser of energy from bringing down energy prices through more available domestic energy
Tell your senators to oppose the Gang of Ten tax increase. And if your senator is one of the co-sponsors, ask them to take their name off the bill.
The government has already done enough to raise gas prices. The last thing we need is to pay more taxes.
But even as some members of the House stand heroically for energy price relief, for reasons beyond my understanding, a group of Republicans in the Senate has signed on to an $85 billion tax increase disguised as an energy bill.
Last week a "Gang of 10" from the Senate - including Republican Senators Lindsey Graham, John Thune, Saxby Chambliss, Bob Corker and Johnny Isakson - announced a "sweeping" energy bill that raises taxes but does little to develop more American energy.
The fact is, if we aggressively pursue new sources of energy, we do not need a tax increase of any kind.
The combination of the following would provide significant new revenues to the federal budget without raising taxes a penny:
New revenue from licensing exploration
New royalties from new discoveries (worth billions to federal and state governments over the next 20 years)
The additional tax revenue from American jobs and American corporate profits from keeping some of the $700 billion a year we currently send overseas here at home
The additional tax revenue from increased profits as lower energy costs enable American companies to be more profitable
The savings to the U.S. government as the largest purchaser of energy from bringing down energy prices through more available domestic energy
Tell your senators to oppose the Gang of Ten tax increase. And if your senator is one of the co-sponsors, ask them to take their name off the bill.
The government has already done enough to raise gas prices. The last thing we need is to pay more taxes.
