Legislation Would Stop Government from "Picking Energy Winners and Losers"

By:  Kelly Holt
03/06/2012
       
Legislation Would Stop Government from "Picking Energy Winners and Losers"

According to CSN News March 2, House Rep. Mike Pompeo (R-Kan.) has again introduced legislation to repeal all energy tax credits. H.R. 3308, The Energy Freedom and Economic Prosperity Act was first introduced in the House last May by Pompeo. The legislation is now under review in the House Ways and Means Committee, and a Senate version was introduced by Senator Jim DeMint (R-S.C.) and Senator Mike Lee (R-Utah) earlier this month.

 

According to CSN News March 2, House Rep. Mike Pompeo (R-Kan., photo) has again introduced legislation to repeal all energy tax credits. H.R. 3308, The Energy Freedom and Economic Prosperity Act was first introduced in the House last May by Pompeo. The legislation is now under review in the House Ways and Means Committee, and a Senate version was introduced by Senator Jim DeMint (R-S.C.) and Senator Mike Lee (R-Utah) earlier this month.

On Thursday at a Capitol Hill press conference, Pompeo was joined by DeMint, Lee, and Senator Ron Johnson (R-Wis.) to speak about the bill. It would repeal all energy tax credits, including credits for the production of clean coal, electric and fuel cell vehicles, and enhanced oil recovery. Repealing these credits has drawn comments from critics, but Johnson rightly says  that the federal government must “stop picking winners and losers, stop supporting multi-million dollar, billion-dollar boondoggles, things like Solyndra, companies that simply can’t survive in the marketplace on their own.”
 
Last year, Wichita Liberty posted a May 23 article noting that  “U.S. Representative Mike Pompeo (R-Kan.) is getting attacked for standing up for the free market principles that Kansas voters sent him to Washington to defend. You may have seen that T. Boone Pickens is trying to use out-of-state pressure from Oklahoma to lean on Pompeo. Pickens wants Pompeo to end his opposition to Pickens’ effort to get special tax treatment for natural gas vehicles. But Pompeo has it exactly right; Washington shouldn’t be picking winners and losers in the energy industry.”
 
Last fall RedState.com noted, “This bill represents a continued effort by Pompeo to reduce government intervention and to give more freedom to markets. ”

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