WASHINGTON, D.C., March 17, 2023 — U.S. Senator Katie Britt (R-Ala.), the ranking member of the Homeland Security subcommittee of the Senate Committee on Appropriations, joined Senator John Barrasso (R-Wyo.) and 20 of their colleagues in sending a letter to Treasury Secretary Janet Yellen condemning the Biden Administration’s latest attempt to weaponize the tax code against U.S. energy producers.
The letter is in response to President Biden’s budget request for Fiscal Year 2024. Specifically, the letter focuses on the $100 billion in targeted tax increases on America’s energy sector, including domestic production of oil, gas, and coal.
The senators highlight how these taxes will crush jobs, raise energy prices for American families, and give our adversaries, including Russia, the upper-hand in the global energy markets.
“Unbelievably, the administration would willingly suppress domestic energy production knowing it means fewer jobs and higher prices for the American people. These crushing tax proposals, paired with the administration’s heavy handed regulations and mandates, would threaten American families’ access to affordable and reliable energy, while giving our adversaries the upper-hand in the global energy markets,” the senators wrote. “America is fortunate to have abundant energy resources. Our nation needs to be focused on unleashing American energy and innovation instead of throwing away one of our biggest economic and geopolitical advantages.”
“Make no mistake, this is a war on American energy by the Biden Administration,” said Senator Katie Britt. “As I have stated, President Biden’s unserious budget proposal is doubling down on policies across the board that are crushing hardworking Americans already suffering from generationally high inflation. It’s past time to unleash American energy, but this Administration is intent on handicapping domestic energy producers and weakening our national security footing, yet again.”
Joining Senators Britt and Barrasso in cosigning the letter include Senate Finance Committee Ranking Member Mike Crapo (R-Idaho), and U.S. Senators Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Kevin Cramer (R-N.D.), Dan Sullivan (R-Alaska), John Cornyn (R-Texas), J.D. Vance (R-Ohio), James Lankford (R-Okla.), Rick Scott (R-Fla.), Jim Risch (R-Idaho), Thom Tillis (R-N.C.), Mike Braun (R-Ind.), John Hoeven (R-N.D.), Tim Scott (R-S.C.), Marsha Blackburn (R-Tenn.), Steve Daines (R-Mont.), John Kennedy (R-La.), Shelley Moore Capito (R-W.Va.), Bill Cassidy (R-La.), and Ted Cruz (R-Texas).
The full text of the letter can be found here.