Palmetto State News

WASHINGTON — U.S. Senator Tim Scott (R-S.C.) and Senate Republican Conference Chairman John Barrasso (R-Wyo.) along with 22 Republican colleagues have expressed serious concern over the proposed tax increases on the production of oil, gas, and coal in the Biden administration’s fiscal year 2025 federal budget.

In a letter addressed to U.S. Treasury Secretary Janet Yellen, the senators highlighted their apprehensions about the Biden administration's approach to American energy production. They stated, "We write with grave concern regarding the administration’s continued hostility towards American energy production. The administration has once again doubled down on weaponizing the tax code against U.S. energy producers."

The senators criticized the administration's belief that utilizing the nation’s abundant natural resources could be detrimental to long-term energy security. They pointed out that such actions could lead to fewer jobs and higher prices for the American people, emphasizing the importance of focusing on unleashing American energy and innovation.

The Republican senators called on the administration to reconsider its stance on energy-related tax hikes, noting the potential consequences on American families, small businesses, and international relations. They urged the administration to support American energy producers who are prepared to provide reliable and affordable energy for the nation.

Among the signatories of the letter are U.S. Senators Mike Crapo (R-Idaho), John Thune (R-S.D.), John Cornyn (R-Texas), James Lankford (R-Okla.), and several others.

The full text of the letter to U.S. Treasury Secretary Janet Yellen can be accessed for further information.