Washington, DC – Ways and Means Ranking Member Dave Camp (R-MI) today issued the following statement and highlighted facts from a non-partisan Congressional Budget Office analysis of H.R. 2454, the Democrat legislation designed to increase energy prices in the United States.
“The facts are plain and clear: Democrats in Congress are breaking the President’s pledge not to raise taxes on working families,” said Camp. “The President has repeatedly stated married couples earning less than $250,000 a year would not face higher taxes, but this legislation imposes an energy tax on every American and provides no help to families making more than $42,000 or individuals making as little as $23,000. Increasing Americans’ fuel and utility bills in this recession is not only bad policy, but it completely ignores the hardships millions of Americans are already facing. This is dangerous legislation in desperate need of closer review.”
According to the CBO report the Democrat legislation:
- Imposes $846 billion in new national energy taxes – $200 billion more than the President’s budget called for.
- Eligibility for “energy stamps” to hold Americans harmless from higher fuel and utility bills as a result of these new taxes completely phases out for singles at $23,000 and a family of four at $42,000.
- Despite facing higher energy prices, most in the middle class would receive no relief.
- Creates several new federal programs and government agencies. The new administrative costs to federal agencies would average $800 million per year over the first 10 years.