New Taxes Hurt
July 20, 2011
Congress is considering hundreds of billions of dollars in new taxes and fees on the oil and natural gas industry. Such taxes kill jobs, hinder economic growth and erode our energy security. It’s hard to imagine a more damaging course of action, particularly at this time. The effect this will have on our struggling state and local economies could be devastating.
These vital industries support 92 million American jobs and $1 trillion in economic activity in the U.S. each year. A quarter of Arkansas businesses and more than a third of our workers will be adversely affected by these increases. The cost of the fuel we need to run our businesses, heat and cool our homes, and drive our cars will go up -- as corporate and personal incomes go down.
We need to call on Congress to provide sound economic policy that supports the jobs and energy sources provided by the oil and natural gas industry and is essential to protecting our nation’s future energy security.
Please join me in supporting a strong economy by letting members of Congress know we want them to avoid placing additional tax burdens on the oil and gas industry.
