Today in Washington, DC the U.S. Senate rejected a series of energy tax amendments to the Senate Transportation Bill. An amendment to create and expand renewable energy programs, including the wind production tax credit, failed by a vote of 49-49. The NAT GAS Act, an amendment aimed at subsidizing natural gas infrastructure and natural gas trucks, failed by a vote of 51-47. Both measures required 60 votes to pass. In addition, the Senate voted to reject an amendment offered by Senator DeMint that was nearly identical to Congressman Mike Pompeo's Energy Freedom and Economic Prosperity Act (HR 3308), which would eliminate all energy tax credits and lower the corporate tax rate.
Pompeo gave the following statement after the Senate votes:
"Today's votes rejecting energy subsidies demonstrate to the nation that taxpayer-funded energy subsidies are fast becoming a relic of the past. Against the backdrop of our gaping $16 trillion debt and an unemployment rate at 8.3%, it was critical that the Senate stand up and reject the crony capitalism that has defined so much of Washington, DC for decades. I'm glad that it did. This victory belongs to Kansans and all Americans.
"Although my legislation eliminating all energy tax credits also did not pass the Senate today, I am pleased that a majority of the Senate Republican Conference voted in favor of the Energy Freedom and Economic Prosperity Act, including Minority Leader Mitch McConnell (R-KY). Together with Leader McConnell, Senators DeMint, Lee and Johnson, and EFEPA co-sponsor Budget Committee Chairman Paul Ryan, I am confident that we will eventually pass this legislation and enact tax reform that eliminates carve-outs and loopholes and promotes real economic growth," said Pompeo.