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NTU Endorses the “American Energy Renaissance Act.”

by Nan Swift / /

The Honorable Ted Cruz
United States Senate
185 Dirksen Senate Office Building
Washington, DC 20510
The Honorable Jim Bridenstine
United States House of Representatives
216 Cannon House Office Building
Washington, DC 20515

Dear Senator Cruz and Congressman Bridenstine:

On behalf of the members of National Taxpayers Union (NTU), I write to endorse the “American Energy Renaissance Act,” S. 791 and H.R. 1487 in the Senate and House, respectively. This legislation would spur economic growth and job creation by creating a path for increased energy production.

As more of our energy resources have become technologically accessible over the past decade, the regulatory stranglehold on particular sectors of the industry has also increased. By addressing a broad swath of the challenges restricting energy producers, S. 791/H.R. 1487 clears excessive Washington red tape out of the way of a true “all of the above” energy renaissance.

Specifically, the legislation would streamline the cumbersome permitting thicket that hinders the energy infrastructure we need to move and process energy products. Reining in burdensome regulations would ensure our coal resources remain part of a reliable, low-cost energy profile. Increasing energy production on federal land and on the Outer Continental Shelf would likewise boost availability. Expanding liquefied natural gas exports and ending the crude oil export ban would ensure the economic activity needed to maintain a thriving energy industry, which in turn helps to deliver debt-reducing revenues without punitive increases in tax rates. Together, these measures would increase vital employment opportunities.

The Renewable Fuel Standard is a telling example of just how far-reaching a singular energy policy can be into other sectors of the economy. The corn ethanol mandate has created massive market distortions, decreased fuel economy, ruined small engines, and escalated food insecurity. Your legislation would wisely phase out this harmful policy, thus creating a level playing field and relieving economic pressure on everyone from food producers to families.

As consumers and taxpayers continue to struggle in an anemic economy, Congress should move forward to unleash the energy potential that could be the key to future prosperity. NTU is pleased to endorse the “American Energy Renaissance Act” and urges all Members of Congress to cosponsor this legislation.

Sincerely,

Nan Swift
Federal Affairs Manager