Rep. Bucshon Slams President Biden’s Call for a New Energy Tax
Washington, November 1, 2022
WASHINGTON – Representative Larry Bucshon, M.D. (R-Ind.-08), a senior member of the House Energy and Commerce Committee, issued the following statement after President Biden called on Congress yesterday to institute a new excise tax, which is also known as a Windfall Profits Tax, on energy company profits.
“President Biden’s call for Congress to institute a Windfall Profit Tax is just another desperate move ahead of the midterm elections to try and avoid the political consequences of the failed energy policies of one-party Democrat rule in Washington. Hardworking Americans are already paying on average almost 60 percent more to fill up their vehicles than they did before President Biden took office. A new energy tax would only worsen America’s energy crisis and further drive up the high costs of energy for Americans.
“We know that instituting an energy tax would be a failed energy policy because Washington Democrats have tried it before, having implemented a similar energy excise tax in 1980. As a result of this Democrat-imposed energy tax, Americans saw a sharp decline in American energy production and an increased reliance on foreign oil production. We cannot let history repeat itself because this energy tax would only result in a ‘windfall’ benefiting Saudi Arabia, Venezuela, Russia, and other foreign producers, while American consumers will only continue to see fuel prices rise,” said Dr. Bucshon