Kevin Brady: “I include in the Record the following letter of opposition, which represents America's independent natural gas and oil…”

“I include in the Record the following letter of opposition, which represents America's independent natural gas and oil production industry, which says this bill will only exacerbate--make worse--our Nation's energy crisis. August 11, 2022. Hon. Nancy Pelosi, Speaker, House of Representatives, Washington, DC. Hon. Kevin McCarthy, Republican Leader, House of Representatives, Washington, DC. Dear Speaker Pelosi and Leader McCarthy: The undersigned trade associations, representing thousands of businesses across the United States that collectively employ millions of Americans, write to express our opposition to the Inflation Reduction Act (IRA) as passed by the U.S. Senate. Further, we write to urge you to reconsider policies within the legislation before proceeding. The United States has experienced its second consecutive quarter of negative GDP growth, and American consumers are facing record high inflation. We share the goal of addressing climate change, as evidenced in the policies we support and in the actions that we take every day. However, the considerable tax increases and new government spending in the IRA amount to the wrong policies at the wrong time. We are also facing the most significant global energy crisis since the 1970's, and U.S. energy security--and that of our strategic allies abroad--is being put to the test. Further, U.S.…”