Says More Energy Not More Energy Taxes Is What America Needs
Washington DC - Congressman Mac Thornberry (TX-13) today introduced H.R. 2539 a bill to encourage the production of all types of domestic energy. There is a stark contrast between my approach to energy and the approach favored by the President and his party said Congressman Thornberry.
I believe we should reduce Americas dependence on foreign energy resources and help the environment by producing more energy of all kinds here at home. They seem to think that by raising taxes on energy forcing people to buy small cars and raising the price of practically every consumer product they can punish people into saving energy. Their global warming energy tax wont work and it will wreck the economy of rural America.
Thornberrys bill includes provisions that:
· Encourage new refinery construction by requiring action to issue tax exempt bonds to be used for construction of certain refineries and make federal lands available for refinery construction.
· Repeals the minimum capture requirement for the newly created CO2 sequestration credit in order to help smaller facilities qualify for the credit.
· Boost alternative energy development by extending the Wind Production Tax Credit (PTC) for 10 years and extending the PTC for 5 years on other alternative energy sources such as Closed-loop biomass Geothermal Landfill gas Marine and Hydrokinetic etc.
· Support alternative fuels by making the excise tax on Liquefied Natural Gas (LNG) and diesel comparable on an energy-equivalent basis and extending the Alternative Fuel Credit through 2010.
· Boost solar energy development by extending the Investment Tax Credit (ITC) through 2018 for 2 years.
· Open the Arctic National Wildlife Refuge to responsible drilling potentially producing nearly a million barrels per day for several decades.
· Encourage investment in a much-needed industrial base for building new nuclear power plants by reducing the tax burden on that industry.
There is no car company that makes a hybrid that can tow a livestock trailer. Big government politicians should quit trying to punishing hard-pressed American consumers with new taxes and regulations when what we need to do is encourage more energy production here at home concluded Thornberry.
For too long Congress has made it virtually impossible to build refineries and new power plants and we have put much of the country off-limits to oil gas and coal development even clean energy technologies like solar are difficult to site. This bill takes some common sense measures to help increase the supply of all forms of domestic energy without resorting to punishing taxes and regulations.
I still think capitalism is a good word. Im getting more and more concerned when I say it too loud
