Sen. Cornyn: New Energy Tax Would Cost Texans Thousands

Statement

Sen. Cornyn: New Energy Tax Would Cost Texans Thousands

Says President Obama should focus on our energy security and independence - not ‘light switch tax' costing taxpayers more than $3,000 annually

U.S. Sen. John Cornyn, a member of the Senate Budget and Finance Committees, today released the following statement regarding President Obama's speech on energy proposals included in his budget blueprint, and clean energy technology.

"While I appreciate President Obama's emphasis on the importance of energy independence and clean energy research, particularly clean coal technology, it's disappointing his budget proposal would raise taxes on American families up to $3,128 each year through his ‘light switch tax.' Imposing new taxes on hard-working Texas families while we are in the midst of an economic recession is the last thing the President should be proposing. We should be looking to invest money in clean coal as well as nuclear and other renewable energy sources. But while President Obama stresses the budget increases ‘green jobs,' he fails to acknowledge the loss of other energy manufacturing jobs that would result from increased taxes on small and independent energy producers. Increasing taxes on small and independent energy businesses that are the backbone of our nation's energy growth will only translate into reduced domestic energy production, fewer jobs and less revenue. I don't understand the logic of this proposal that comes at the expense of already struggling middle-class families with an energy tax increase.

"This is only one of the many examples of the missed priorities in his budget blueprint, which spends too much, taxes too much and borrows too much. As Congress prepares to debate the budget in the days and weeks ahead, I am committed to working with my colleagues and passing a budget that won't penalize Texas taxpayers. "

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