To the editor:
Congress is developing a plan to tackle the U.S. deficit and get people back to work after the supercommittee’s failure. I hope the plan will be focused on reaching consensus rather than more partisan posturing. Any deal that is struck, though, must make economic sense and should not burden our economy as it struggles to move forward.
The domestic oil and gas sector is hugely important to our economy’s recovery, employing hundreds of thousands of our Kansas neighbors and providing needed energy security for our country. Federal officials are considering a new proposal to levy a double tax on U.S.-produced oil and gas, while exempting companies with headquarters overseas. We already struggle to find and maintain quality jobs in the U.S.; why would we give an economic advantage to our foreign competitors? This proposal would push jobs overseas and force the domestic energy sector to make up their losses — higher prices on gas for American families. Too often our politicians forget that our neediest neighbors rely on oil and gas to heat their homes, transport themselves to jobs and their kids to school, and deliver their food.
As our economy works to recover, we know that we cannot harness its energy by placing new burdens on such important sectors. Rather, we need to promote job creation and economic growth by keeping tax burdens low. Then we all benefit from lower gas costs and more money in our pockets.