Today, Congressman Mike Pompeo (KS-04) and Congressman Raúl R. Labrador (ID-01) joined with Americans for Tax Reform's Grover Norquist and Heritage Action's Michael Needham at a press conference where they voiced their opposition to all government energy subsidies. The two Congressmen utilized the occasion to unveil House Resolution 267.
The Pompeo resolution (H.Res. 267) expresses the sense of the House of Representatives that the United States must end government subsidies aimed at picking winners and losers in the energy industry. The resolution also clarifies that general business tax provisions available to all American companies, such as the deductions targeted by Senate Democrats, are not subsidies.
"The President and Senate Democrats' plan is to target oil tax provisions that are nothing more than general business deductions available to all industries. The President also supports H.R. 1380, the NAT GAS Act, which would create a massive subsidy program for the natural gas industry. Both policies are wrong and part of this Administration's, and many in Congress', goal of picking winners and losers in the energy industry. My resolution will begin the process of ending the bad policy of using taxpayer dollars to support targeted interests within the energy sector," said Congressman Pompeo.
"The free market has created the most dynamic economy in the world. Although we are currently struggling, I look forward to working with Congressman Pompeo to eliminate taxpayer funding and let the free market pick winners and losers instead of government bureaucrats," added Congressman Labrador.
Club for Growth President, Chris Chocola was unable to join today's press conference, but released the following statement in support of Congressman Pompeo and Congressman Labrador's leadership on this issue:
"The Club for Growth strongly supports Congressman Pompeo's resolution," said Club for Growth President Chris Chocola. "Energy tax and spending policies distort energy markets and complicate the tax code. This leads to higher energy costs, higher unemployment, less efficiency and less economic growth. Congress should cut tax rates and spending, and stop the corporate energy welfare that distorts the free market."