Political Quotes

“Mr. Chairman, I rise in support of this amendment. This amendment expresses disapproval of the proposed tax hikes on the oil and gas industry in President Biden's 2024 budget. It is estimated that the President's budget request would result in a $31 billion tax hike on the industry. This is another move by this administration to harm the domestic oil and gas industry and undercut their global competitiveness despite asking them to produce more. The independent oil and gas producers develop 91 percent of the wells in the United States, producing 83 percent of America's oil and 90 percent of its natural gas. I think it is important to note that integrated companies don't get 100 percent of the tax break, only nonintegrated companies. The small oil and gas producers that exist in western North Dakota, eastern Montana, Kansas, and Oklahoma that produce the majority of America's oil are the producers that the Biden administration wants to raise taxes on. The Biden budget proposal also calls out these producers for failing to invest in production. Meanwhile, this administration is doing everything to tax and regulate the industry out of existence. Mr. Chairman, I urge a ``yes'' vote on this amendment.”