Innovation, Not New Taxes

INNOVATION, NOT NEW TAXES -- (House of Representatives - February 27, 2008)

(Mr. WILSON of South Carolina asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. WILSON of South Carolina. Mr. Speaker, if at first you don't succeed, try, try again.

The Democrats have failed three times to push through their energy tax increase but here it is on the floor again today. When will our neighbors across the aisle realize we cannot tax our way to energy independence? Innovation and competition, the free market forces that have led to extraordinary discovery, do not emerge from tighter bureaucracy and punitive tax policies; yet, the majority still wants to raise taxes on the American people.

The truth is that our antiquated domestic refinery capacity, a dependence on foreign oil, and a growing global demand for oil are responsible for the increase in oil prices. Raising taxes on American companies simply punishes American taxpayers by implementing a policy which will raise the price at the pump and hit us all in the wallet.

Let's expand our energy development and workable conservation programs, but let's promote innovation, not new taxes.

In conclusion, God bless our troops, and we will never forget September the 11th.

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