Increased energy costs will result in layoffs and higher prices
Texas Insider Report: WASHINGTON D.C. Today the House of Representatives approved a formal resolution in response to the Presidents proposed tax increase on oil and energy production. U.S. Representative Will Hurd whose district covers portions of both the Eagle Ford Shale and the Permian Basin told the Obama Administration no to tax hikes for the energy sector during an economic downturn that has already costs Texans tens of thousands of jobs.
These proposed tax increases would be devastating to our local economy. Increased costs for energy producers would result in additional layoffs and higher consumer prices for the hardworking people in the 23
rd Congressional District of Texas" said Hurd. During a time when many Americans families and small business owners are worried about feeding their families it is not the time to pile on extra costs."
Last year the House passed a legislation to lift the national ban on crude oil export an effort spearheaded by Hurd and Congressman Henry Cuellar as well as passing the
Protecting Americans from Taxes Hikes Act.
The implementation of these taxes will undermine Congress efforts and will ultimately be felt in the pockets of hard working Texans and Americans. This administration needs to stop limiting our energy capabilities and start maximizing our energy potential" said Hurd.
