Non-Partisan Congressional Research Service Reports Tax Hikes “Would Make Oil And Natural Gas More Expensive,” While Even Dems Admit “It Would Cost Thousands Of Jobs”

With gas prices at an average $3.96 per gallon nationwide, liberal U.S. Senator Bob Casey (D-PA) and President Barack Obama are attempting to slam Pennsylvania families and job creators with new energy tax hikes that the non-partisan Congressional Research Service (CRS) reports “would make oil and natural gas more expensive for U.S. consumers and likely increase foreign dependence.”

As The Hill reports, “Democratic plans to end tax incentives and royalty waivers are piling up on Capitol Hill as the party tries to avoid political fallout from high gas prices and counter GOP calls to greatly widen offshore drilling.” But even some of Casey’s fellow Democrats admit that the energy tax hikes will “cost thousands of jobs” and “increase our dependency on foreign oil.”

Notably, the Democrats’ energy tax hike proposal comes on the heels of reports last week that President Obama is proposing a new mileage tax on each and every driver in America.

“Incredibly, while Pennsylvanians are struggling with $4-a-gallon gas, Bob Casey and President Obama are trying to slam them with new energy taxes,” said National Republican Senatorial Committee (NRSC) spokesman Chris Bond. “Even Casey’s fellow Democrats admit President Obama’s gas tax hikes kill jobs and increase our dependence on foreign oil.”

Background Information:

2007: Casey Proposed Legislation That Would “Impose A Windfall Profits Tax On Oil Companies And Revoke Some Government Subsidies.” “A group of eight freshman Democratic senators have introduced legislation that would impose a windfall profits tax on oil companies and revoke some government subsidies. The legislation, proposed by Sen. Robert Casey, D-Pa., would impose a 50 percent tax on profits after oil prices rise above $50 a barrel. It also repeals tax ‘loopholes and breaks’ from legislation signed into law in 2005, Casey said Thursday. . . . Joining Casey in unveiling the legislation were Sens. Jon Tester of Montana, Bernie Sanders of Vermont, Claire McCaskill of Missouri, Jim Webb of Virginia, Sheldon Whitehouse of Rhode Island, Sherrod Brown of Ohio and Amy Klobuchar of Minnesota. All were elected to the Senate in November.” (Tina Seeley, “Eight Democratic Senators Propose Oil Windfall Tax,” The Houston Chronicle, 4/27/07) 

CRS: Tax changes outlined in the President’s budget proposal “would make oil and natural gas more expensive for U.S. consumers and likely increase foreign dependence.” (“Oil And Natural Gas Industry Tax Issues In The FY2012 Budget Proposal,” Congressional Research Service, 3/3/11)

SEN. MARY LANDRIEU (D-LA): “The administration has put forward draconian taxes on the oil and gas industry… It seems very contrary to our stated goal of being more energy sufficient in the United States. Taxing this domestic industry will instead cut jobs and increase our dependency on foreign oil. So I want you to deliver that message again to the Administration. We have bipartisan opposition to increasing taxes on this industry.” (Sen. Landrieu, Press Release, 3/3/10)

SEN. MARK BEGICH (D-AK): “The president’s call for eliminating incentives for oil and gas production is a non-starter and could hurt Alaska’s energy industry.” (Sen. Begich, Newsletter, 2/10/11) 

· BEGICH: “[The President’s proposal] would cost thousands of jobs in Alaska and across the country. Energy companies are among the businesses investing and creating jobs at a time when our country needs both. I will fight any measure that ends these incentives.” (“Oil And Gas: Tax Break Debate Heats Up On Capitol Hill,” E&E News PM, 2/8/11)