- Energy Tax Facts
- 16 Jun 13
Rep. Tom Reed: American Energy Pushing the Economy Forward
The American oil and natural gas industry is one of the few sectors that is pushing the economy forward and investing here at home – including my backyard in New York’s Southern Tier – in an otherwise slow recovery environment. These producers have generated billions of dollars in state, local and federal revenues while creating tens of thousands of jobs while bolstering national security and a domestic manufacturing renaissance through greater energy independence.
It is important therefore, that we work to support that economic growth and make our country more attractive for investment.
As a member of the House Ways and Means Committee, we are working toward real tax reform that increases fairness and simplifies our current 70,000-page tax code. As we undertake tax reform, three of my priorities are to ensure the tax code is simplified, promotes economic growth, and recognizes the importance of capital formation and investment in capital-intensive, job-creating industries – like the oil and natural gas industry.
Real tax reform will help to ensure America has a stable, domestic energy supply and a vibrant manufacturing base that makes products consumers need and produces family-sustaining jobs. As the co-chair of both the Congressional Natural Gas Caucus and the House Manufacturing Caucus, I am working to promote low-cost American energy to fuel our U.S. manufacturing renaissance. We can lower energy costs not only for manufacturers, but all Americans, by developing our valuable, domestic resources.
By Representative Tom Reed (NY- 23rd)