The American Energy Alliance urges all members to oppose H.R. 5376, the 2022 budget resolution reconciliation legislation.
The reconciliation package is filled with new taxes and spending that are bad policy at any time, but especially dangerous at a time of high inflation and with the economy tipping into recession. As multiple independent analyses show, this legislation will not reduce inflation despite the title adopted by its proponents. More government spending, more subsidies, and more taxes are hardly what a shaky economy, already reeling from excessive government spending, needs right now.
The energy taxes included in the package are especially foolish at a time when even the Biden White House, which has vowed to end oil and gas use, is begging for more domestic production in the face of high energy prices. The legislation would impose a new tax on methane, it would increase taxes on oil and gas production on federal lands, increases taxes on coal production, and reimposes a long-expired environmental tax on oil production. Every one of those tax increases will be passed on to consumers, and not just in the form of higher prices at the pump or costlier electricity bills. Everything in this country moved by trucks, running on more expensive diesel, will cost more. Groceries, clothing, appliances, and even Amazon deliveries — all more expensive. This legislation is irresponsible and should be opposed.
The AEA urges all members to support free markets and affordable energy by voting NO on H.R. 5376. AEA will include this vote in its American Energy Scorecard.
Contact your representative with the tool below and tell them to ditch the Manchin/Schumer inflation acceleration act TODAY!