Rising inflation and higher gas prices are upon us, and now some in Congress want to slip an inequitable, punitive tax into the pending $3.5 trillion reconciliation bill.
The proposed methane tax will raise home heating costs and already-high gas prices, and the prices of thousands of everyday products derived from oil and gas. That’s before higher transportation and energy costs increase businesses expenses, which will filter through the entire economy.
“There is no excuse for any political party to try and tax an industry out of existence, especially one that affects everyone’s wallet. Energy costs disproportionately affect low- and fixed-income families in New Hampshire and New England, so punishing an industry critical to our economy creates injustice because it forces financial harm on the undeserving.”
It’s as nonsensical as curbing American energy production, and then begging OPEC to export more — especially when America has delivered the world’s largest emissions reductions for two decades straight. U.S. energy companies cut methane emissions by almost 70% from 2011-2019, and are working on industry initiatives and innovations to reduce them further.
Our congressional representatives should reject this tax before it adds more inflation and high gasoline prices, without actually reducing emissions. Sen. Maggie Hassan’s position on the Senate Energy, Natural Resources and Infrastructure Subcommittee puts her in a strong position to protect our wallets in New Hampshire by rejecting this measure.
The Granite State doesn’t need a costlier winter heating season, nor a repeat of the inflation and high gas prices of the 1970s.
Read more – Union Leader