Costly Energy Budget: Taxpayers Pay Big for Extreme Environmental Agenda

Rory Cooper / March 25, 2009

Taxing Every American

• Even Obama’s “95%”: President Obama’s energy policies will cost Americans more money, limit their access to America’s resources, and provide little, if any, environmental benefit. It is an extreme environmental agenda.
• Climate “Revenue”: The President’s budget proposes a $646 billion cap-and-trade tax that would cost each household in America between $650 and $1,200 annually.
• Superfund: The budget would reinstate unnecessary excise taxes that expired in 1995 to fund Superfund’s efforts to clean up toxic and contaminated areas, which may be admirable if these clean-up goals weren’t already supported by strict environmental laws. New tax efforts would unfairly burden companies that produce little waste.
• Oil and Gas Taxes: The budget would collect $31 billion in new oil and gas tax revenue through a punitive repeal of tax deductions and accounting measures. These new taxes would affect Gulf of Mexico oil and gas production and impact an industry already taxed above the industrial average, which would be detrimental to increasing domestic supply. (more…)