Political Quotes

“My amendment pertains to the Inflation Reduction Act. In order to pay for what ended up being approximately $1.2 trillion in green subsidies, the Biden-Harris administration chose to raise the royalty rate on onshore oil and gas leases from 12.5 to 16.66 percent through the Inflation Reduction Act of 2022. Progressive Democrats also voted in unison to quintuple the minimum bid amount from $2 an acre to $10 an acre. The minority voted to increase the rental rate by a factor of 9 from $1.50 to eventually $15 an acre. At the time of the bill passage, estimates indicated that the bill would impose a $6.5 billion hike on oil and gas development. At a time when we need to get back to energy independence, when we need to fight inflation by lowering the price of fuel, we have to peel back these failed policies that hurt the economy and hurt the consumer. Mr. Chairman, I reserve the balance of my time.”