Last week, with the help of Senator Orrin Hatch, the Senate Finance Committee voted to extend dozens of special interest tax preferences for green energy – preferences that are nothing more than subsidies and market distorters. Included in the $205 billion package is the Production Tax Credit, which subsidizes up to 80% of wind energy production. Score one for Big Wind! Other special interest handouts | Read More »
Whew! It’s good the Utah primary is over. Now Senator Hatch can relapse into his natural modus operandi. As we’ve noted before, at the end of every calendar year, Congress passes a ‘tax extenders’ bill to temporarily reauthorize specific tax breaks that have not been permanently written into law. Some of these extenders include universal tax cuts such as, the AMT patch, the R&D business | Read More »
Mitt Romney actually stood for bold colors yesterday. For conservatives, it should be the biggest story of the week. Conservatives are rightfully focused on the impending tax cliff that is facing American taxpayers at the end of the year. But we must not forget the subsidy cliff either. Dozens of special interest tax preferences, known as tax extenders, are slated to expire at the end | Read More »
Well, not exactly. Fred Upton has defeated Fred Upton. As the primary season progresses, we’ve see this pattern repeat itself on numerous occasions. There’s an old bull Republican who has been pushing for big government and anti-free-market policies for years. Then, as soon as his primary opponent begins to sow the seeds of disquiet in his district, the old bull lurches to the right, introduces | Read More »
Even as gas prices decline, we must not relent in our pursuit of free market energy solutions. Gas prices will continue to spike every few months as long as we refuse to increase supply to meet our energy needs. Moreover, $3.40 per gallon of gasoline – or even $3 per gallon – is too much. We must not let Obama off the hook for continuing | Read More »
This week, the House debated and passed the FY13 Energy-Water appropriations bill, which primarily funds the Energy Department and agencies within the Department of Interior. While House leadership claims to support a balanced budget, they are not willing to eliminate the requisite number of programs needed to achieve that goal. As conservatives, we believe that the entire Department of Energy – except for the nuclear | Read More »
Last week, Senator Jim DeMint said the following regarding the stakes between Ted Cruz and David Dewhurst in the Texas Senate race: “A Republican majority is pointless if it isn’t achieved w/ conservatives who will fight to stop the spending and debt.” His comments cannot be more oracular. If we win back control over the Senate, yet keep the same leadership intact, we will be | Read More »
One of the most appalling features of Obama’s presidency is the expansion of green venture socialism on behalf of corporate cronies who helped finance his campaign. Obama’s use of stimulus funds to distort the energy market with subsidies and loans to unprofitable solar energy companies has become the hallmark of his presidency, and it has theoretically provided us with a potent political weapon. Yet for | Read More »
Update: All 4 amendments were defeated, meaning we won 2 and lost 2. DeMint’s devolution amendment failed 30-67 with 14 Republicans (including McConnell) voting no; Stabenow’s green energy pork amendment failed 49-49; DeMint’s repeal of all energy subsidies failed 26-72; the Menendez-Burr handouts for natural gas cars failed 51-47. 6 Republicans supported the subsidies, including Tom Coburn! This might seem like a stalemate, but the | Read More »
Update: The Senate postponed the three energy subsidy amendments until next week. Instead, they voted on amendments to drill in the outer continental shelf, expedite the keystone pipeline, and eliminate duplicative programs. Needless to say, Democrats killed all three of those amendments. We’ll fight on next week. We’ve been gunning hard for the Pompeo/DeMint bill, which would end all subsidies and special tax preferences for | Read More »
Democrats have a penchant to misconstrue the parlance related to tax credits and subsidies. They refer to subsidies as tax cuts and tax cuts as subsidies. They would have you believe that oil companies are completely on the dole, while solar and wind companies are heavily taxed entities in desperate need of some “tax breaks” and loans in order to alleviate the burden of producing | Read More »
It’s that time of year again. The clock is ticking toward December 31, and green energy special interests are discreetly lobbying for the extension of their choice handouts, credits, and grants. We must remain vigilant against these powerful interests. At the end of every calendar year, Congress passes a ‘tax extenders’ bill to temporarily reauthorize specific tax breaks that have not been permanently written into | Read More »
It certainly pays to go green. Well, at least until the greenbacks stop flowing – and bankruptcy kicks in. Last year, the Competitive Enterprise Institute’s Chris Horner estimated that the $30 billion green handout in the stimulus bill cost taxpayers roughly $475,000 per job created. According to the Wall Street Journal, that’s quadruple the cost of creating a job in a nonsubsidized private firm. It | Read More »
The Democrats think the American people are stupid. Throughout the debt ceiling imbroglio, Obama and every single elected Democrat have regurgitated their talking points about a balanced solution to the debt crisis. They have insulted the intelligence of every voter by intimating that the budget can be balanced by eliminating a few tax credits. No, they don’t want to talk about the tens of trillions | Read More »
“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”~ President Ronald Reagan Democrats (and the Maine Republicans ladies) are agog to demonize oil companies and punish them with punitive tax increases. Their effort was defeat yesterday 52-48, but they plan to continue | Read More »
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