Drake Supports Lower Energy Costs, Less Dependence on Foreign Oil
U.S. Representative Thelma Drake (R-Va.) reaffirmed her support for lower energy costs and less dependence on foreign oil with her vote against H.R. 5351. H.R. 5351 would repeal the manufacturing tax credit for America's three largest oil companies, a credit which is available to all manufacturers. This will raise taxes by over $17 billion, including $13 billion targeted directly at domestic energy producers. In addition, the bill does not include provisions to expand domestic energy production, which is an important component of addressing higher energy costs.
"At a time when high energy prices are a burden on America's families, I cannot support a bill that raises taxes and further increases energy costs on the American people," said Drake. "The fact is that this bill will increase dependence on foreign oil and raise energy prices by making American energy companies less competitive against their foreign counterparts."