On Thursday, House Republican Whip Steve Scalise (R-La.), Rep. Devin Nunes (R-Calif.) and 54 of their colleagues sent a letter to House Speaker Nancy Pelosi (D-Calif.) and Majority Leader Steny Hoyer (D-Md.) urging them to abandon plans to use their so-called “infrastructure” bill to devastate the U.S. oil and gas industry and the jobs it supports.
The letter was shared on social media Thursday by Rep. Jodey Arrington (R-Texas), who led the effort to reach out to the Democrat House leaders.
“Punitive measures” in the plan target the oil and gas industry, directly threatening the “11 million high paying jobs” it supports, the congressmen say:
“Despite significant areas of agreement, another partisan approach is being contemplated to ram through a lengthy list of progressive policies and backbreaking tax increases. Many of these proposed and devastating tax hikes are punitive measures targeting the oil and gas sector and the 11 million high-paying jobs supported by the industry.”
“Every business since the inception of the tax code has used cost recovery provisions” to write-off costs, the letter says, warning of Democrats’ plan to single out and eliminate tax breaks for the oil and gas industry.
Repealing write-offs of Intangible Drilling Costs (IDCs) “could result in the loss of over a quarter million jobs by 2023” and “repeal of Percentage Depletion will eliminate 84,000 mainly small business jobs per year and harm royalty owners as well,” the letter cautions.
“Before waging war on the oil and gas sector, it should be remembered that the industry supplies nearly 70 percent of America’s energy needs at a low cost for millions of families,” the letter says.
What’s more, by making the U.S. energy-independent, the oil and gas industry has enhanced national security and given the country a competitive advantage over totalitarian foreign nations, the congressman say, urging Democrats abandon their anti-energy proposals:
“The industry has given the United States enviable energy independence and, as a result, enhanced national security.”
“Our nation has been blessed with abundant and affordable energy resources that have been a driving force of job growth and have given America economy advantages over totalitarian foreign competitors. We urge you to put American families ahead of special interests in any legislative package and work with us to accelerate or economic recovery.”
See PDF of letter with all 56 signatories here.
Skyrocketing gas prices are just the beginning of what's to come with Dems' policies aimed at destroying the oil & gas industry.— Rep. Jodey Arrington (@RepArrington) May 13, 2021
Working families will feel the greatest pain.
I led a letter with 55 of my colleagues urging Dems not to compromise American energy independence. pic.twitter.com/09uLmlVxCH