Chairman Frank Lucas today released the following statement on Scott O'Malia's last day as Commissioner of the Commodity Futures Trading Commission (CFTC). Last month, O’Malia announced he would resign to pursue other opportunities.
The Ag Minute: Democratic Leadership Continues to Push National Energy Tax Despite Opposition
Tamara Hinton (202) 225-0184
WASHINGTON – This week during The Ag Minute, Ranking Member Frank Lucas discusses how the U.S. Senate is expected to consider a climate change and energy bill before the end of the month. Ranking Member Lucas further explains how the proposals the Senate will consider would result in a national energy tax that would be devastating to the livelihoods of our farmers and ranchers.
Click here to listen to The Ag Minute. The transcript is below.
"The Democratic Senate Majority Leader announced on Tuesday that the Senate will consider climate change and energy legislation before the end of the month, which will include the Kerry-Lieberman bill.
"This comes as the Congressional Budget Office recently confirmed what we already knew about that bill. It would amount to a $751 billion national energy tax over ten years. It would attempt to reduce greenhouse gas emissions by increasing energy prices. This would be particularly devastating to our farmers and ranchers because agriculture is an energy-intensive industry.
"An analysis of the House-passed national energy tax bill showed that net farm income would decrease by an average of $23 billion per year as a result of increased energy costs.
"A recent poll indicates that Americans are clearly opposed to the Kerry-Lieberman bill and the House version, Waxman-Markey because they would increase taxes on energy.
"The poll finds that:
"94 percent of voters say that new energy taxes would hit lower- or middle-income citizens the hardest.
"70 percent of voters oppose policies that would create new energy taxes in order to reduce greenhouse gas emissions.
"47 percent of voters believe that new energy taxes would kill jobs.
"My friends, we must support an 'all of the above' energy policy that promotes energy independence, job creation, and a cleaner environment. But, a national energy tax is not the way forward."
The Ag Minute is Ranking Member Lucas's weekly radio address that is released each Tuesday from the House Agriculture Committee Republicans.