Sacrificing energy is no way out of sequester
Every once in a while an idea gets broached in Washington that superficially appears to offer an easy way out of a difficult problem. Avoiding sequestration by raising taxes on America’s energy industry is one such idea.
This we know: Washington has a massive spending problem. But pushing for tax increases on energy companies as a quick fix for our country’s fiscal problems is about as nonsensical as it gets. In fact, such tax increases actually would slow economic growth even further.
Our country needs its robust energy economy to continue growing. Without it, the United States diminishes a dynamic industry that, instead of laying off workers in the midst of the recession, actually managed to create tens of thousands of well-paying jobs right here at home. Eliminating certain oil and gas tax provisions, which are often misleadingly presented as “subsidies,” would compromise the industry’s ability to add even more jobs and boost economic growth. It would also be counterproductive and risk bringing our emerging U.S. energy renaissance to a grinding halt.
The Hill
Haley Barbour
2/28/13
Magnolia Tribune
