Begich Statement on Oil Tax Incentive Vote
U.S. Sen. Mark Begich released the following statement today after voting “no” on the motion to proceed with debate on the Repeal Big Oil Tax Subsidies Act. The Act would end some tax incentives for energy companies. The motion to proceed passed.
“Singling out one industry because it’s politically popular won’t balance the tax code and it certainly won’t lower energy prices for Alaska families.
“I have long been an advocate for both real tax reform and a comprehensive energy plan, and that is why I am disappointed to see the Senate wasting time on a political package that pits fossil fuels against renewable energy. For the first time in decades, our country is producing more oil than it imports. Now is not the time to jeopardize our recent progress in reducing our dependence on foreign oil.
“We have to figure out how to fund renewable energy sources, but we also need to recognize America still uses approximately 19 million barrels of oil each day, and we shouldn’t jeopardize the competitiveness of American production and the nine million jobs it supports.
“So let’s get on with the show, have a real discussion about tax reform, and put together an energy plan that includes renewable and non-renewable resources and provides long-term energy security for our country.”
Posted: March 27, 2012