Energy Groups Praise Cruz’s Bill to Cancel Biden’s Natural Gas Tax
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U.S. Sen. Ted Cruz has introduced a bill seeking to repeal the Natural Gas Tax included in President Biden’s Inflation Reduction Act, arguing that it would increase costs for energy customers and add an additional load on American families already battling inflation. The proposed legislation specifically aims to remove a new fee imposed on methane emissions by the law. The bill, backed by various petroleum producers and associated organizations, has been co-sponsored by a number of Republican senators and a companion legislation has already been passed in the U.S House of Representatives.
Sen. Ted Cruz Introduces Bill to Repeal Natural Gas Tax
U.S. Sen. Ted Cruz (R-Texas) has proposed legislation repealing the Natural Gas Tax incorporated in the Biden administration’s Inflation Reduction Act. The bill aims to eliminate the new methane emissions fee, which increases energy costs for consumers and imposes an additional burden on families grappling with historical inflation.
Sen. Cruz asserted that the Biden administration’s focus on their radical climate agenda has led to inflation and threatened American energy security and jobs. He highlighted that the methane emissions fee would worsen these effects and particularly harm Texas, undermining producers across the state.
Sen. Hyde-Smith, Sen. Cotton, Sen. Tuberville, and Rep. Pfluger also offered their support for the bill, expressing concern over the rise in energy prices, the impact on American businesses, and the increase in taxes and government red tape.
The bill is co-sponsored by numerous senators and Rep. August Pfluger (R-Texas-11), who introduced the companion legislation in the U.S. House of Representatives, which passed earlier in the 118th Congress. Access the full text of the legislation here.
The legislation is supported by numerous petroleum and energy associations. They argue that the Natural Gas Tax hampers American-made energy production and increases costs. They advocate for the repeal of this regulation to restore American energy security and reduce energy costs for consumers.
Read statements from the President of Permian Basin Petroleum Association Ben Shepperd, President of Texas Alliance of Energy Producers Karr Ingham, President & CEO of Independent Petroleum Producers of America Jeff Eshelman, and others here.
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