|America's independent, non-partisan advocate for overburdened taxpayers.||Home | Donate | RSS | Log in|
NTU Launches Million-Dollar Campaign to Fight New Energy Taxes
For Immediate Release May 4, 2011
Pete Sepp, (703) 683-5700
(Alexandria, VA) – The National Taxpayers Union (NTU) has launched a $1.25 million television, radio, and online advertising campaign to oppose new energy taxes currently under consideration in Washington.
"Artificially inflating prices of the energy our economy needs for a strong recovery is unproductive, unworkable, and unfair to American families and businesses," NTU Executive Vice President Pete Sepp said. "Tax hikes should be off the table – instead, the President and Congress should be looking for ways to bring gasoline prices down."
Currently, the President and some Members of Congress are calling for an end to the dual capacity credit, which allows American energy companies to deduct a portion of foreign taxes they pay from their U.S. tax bills, and to the firms' ability to take a domestic manufacturing deduction allowed under Section 199 of the Tax Code. Both of these provisions are available to nearly all American businesses. However, President Obama and Congress are only seeking to repeal them for energy companies.
"America's corporate tax system, with its high rates and horrendous complexity, needs an overhaul that treats everyone fairly, not more tinkering that punishes a few politically-convenient targets," Sepp said. "Until our leaders tackle honest tax reform, dual capacity and Section 199 allow our U.S. companies to be more competitive in the global energy market – by eliminating them we would certainly lose American jobs and the price of energy for American consumers would go up."
To view the advertisement, click here or read the text below.
To contact the National Taxpayers Union, please call Pete Sepp at (703) 683-5700
NTU is a nonpartisan, nonprofit citizen organization founded in 1969 to work for lower taxes, smaller government, and economic freedom. Note: For more information on NTU’s energy policy work, visit www.ntu.org.