East Idaho Times

Washington, D.C.--A group of Republican senators, including Mike Crapo, Jim Risch, and John Barrasso, have raised objections to President Biden's proposed tax increases on American energy producers. The senators, along with several of their colleagues, penned a letter to U.S. Treasury Secretary Janet Yellen expressing their concerns about the impact of the tax hikes on the energy sector.

In the letter, the senators criticized the Biden administration for targeting oil, gas, and coal production with $110 billion in tax increases. They warned that these measures would lead to lower wages and higher prices for American workers. The senators accused the administration of using the tax code as a weapon to hinder U.S. energy production, which could ultimately result in higher energy prices for American families and businesses.

"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 stated in their letter.

The senators emphasized the importance of unleashing America's abundant energy resources and called on the administration to stop attacking energy producers who are ready to provide reliable and affordable energy for the American people. They highlighted the significance of American energy independence and innovation in maintaining the country's economic and geopolitical advantages.

"It is alarming that the administration believes utilizing our nation’s abundant natural resources will be detrimental to long-term energy security. Sadly, the administration would willingly suppress energy production knowing it means fewer jobs and higher prices for the American people," the senators added.

The letter was co-signed by a number of Republican senators, including John Thune, John Cornyn, and Marsha Blackburn, among others. The senators urged the administration to reconsider its approach to energy policy and prioritize the development of American energy resources.

The full text of the letter can be found on the Senate's official website.