Manufacturers Concerned by Energy Tax Proposals05/05/11 - National Association of Manufacturers (NAM) President and CEO Jay Timmons issued the following statement today in reaction to congressional proposals to raise taxes on energy producers:
“Manufacturersuse almost one-third of our nation’s energy and have long supported developing a diverse portfolio of affordable energy sources to ensure our nation’s competitiveness and economic growth. We are deeply concerned about proposals in Congress to raise taxes onsome U.S. energy companies.
These increased costs actually will discourage oil and gas investments in the United States, making us less competitive and threatening job creation and the broader economy.
The debate about energy policy should focus on enhancing America’s energy security by encouraging new investments in affordable sources of energy, not imposing new taxes on the domestic energy industry.
Raising taxes on domestic energy producers will only decrease our energy security, putting more American jobs at risk. With encouraging signs of economic growth, now is not the time to raise taxes, but to continue to invest in America’s future. We must focus on enhancing America’s energy security through increased production of all types of energy, improved conservation and energy efficiency.”