Coalition Opposes NAT GAS Act in Senate
In May, Heritage Action and a dozen other political groups opposed H.R.1380, the NAT GAS Act. Now that the Senate has introduced a companion bill, S.1863, the coalition has written another letter in opposition.
After an unprecedented 19 Congressmen removed their names from H.R.1380 because the bill distorts the market and allows the government to pick winners and losers in the energy industry; introducing the bill in the Senate appears to be nothing more than a fundraising ploy. From the Letter:
“By targeting tax subsidies toward one type of transportation fuel—natural gas—the NAT GAS Act does not evenly apply lower taxation across the board. It does the exact opposite. America’s tax code is already overburdened with too many carveouts for special interests that raise compliance costs, distort economic decision making and give advantages to the politically well connected. The last thing Congress should be doing is making the tax code more complex.”
Instead of making the tax code even more complicated, Congress should be making the tax code simpler. Luckily, just such a bill exists. Congressman Mike Pompeo (R-KS) has introduced H.R.3308, the Energy Freedom and Economic Prosperity Act, which will actually remove all the targeted energy tax subsidies and lower corporate tax rates to get government out of the market.
That’s legislation that encourages growth based on merits, not special interests.