BP BAILOUT

Dear Concerned American,

Liberals in Congress are currently working to slap massive new tax increases on American energy producers and consumers at a time when our nation’s economy can least afford them.

But that’s not all...

...The new energy taxes being schemed up by Congressional liberals will actually have the effect of subsidizing the operations of BP and other foreign-based corporations like Hugo Chavez’s state-run oil company!

That’s right. If proponents of these energy tax increases get their way, foreign-owned corporations will be handed a competitive advantage over American employers by our very own politicians in Washington.

With Barack Obama’s politically-motivated offshore drilling moratorium in place, America’s oil and gas companies have already been forced to lay off workers, scale back energy production and limit important investments that support local economies.

Entire communities in Louisiana and on Florida’s Gulf Coast literally have been crippled.

Yet, now Congress wants to put our nation’s economic and energy security at further risk by rewriting the tax code in favor of foreign competition from places like China, Venezuela and the Middle East.

As if that’s not troubling enough, these massive new energy tax increases would effectively amount to a Bailout for BP!

Never mind the fact that BP just spilled more than 100 million gallons of oil into the Gulf of Mexico, when is it ever good policy to reward it and other foreign corporations with a competitive leg up on American companies?

The answer is NEVER.

America’s domestic oil and gas industry supports over 9 million American jobs and contributes more than $1 trillion to the U.S. economy each year. If Congress is successful at adding another $35 billion in new taxes to our energy industry’s balance sheet, many of those jobs and billions of dollars in economic activity could either vanish or be sent overseas.

House Speaker Nancy Pelosi, Senator Robert Menendez and other Members of Congress who support such new energy tax legislation are out of touch with the American people’s desire for a strong economy and affordable, reliable energy supplies.

New energy taxes will mean less oil and gas production, and that means fewer American jobs and higher prices at the pump.

The future of our nation’s economic and energy security is on the line. The last thing we can afford now is new taxes on our domestic energy industry that will cut jobs, raise gas prices and slow our economic recovery.

Yours in Freedom,

Jeffrey Mazzella
President
Center for Individual Freedom