From JAZZ Shaw at HotAir…….The National Taxpayers Union is launching a new media campaign to raise awareness of the effects on Americans’ wallets if Washington moves forward with plans to jack up taxes on energy producers.
The National Taxpayers Union (NTU) has launched a $1.25 million television, radio, and online advertising campaign to oppose new energy taxes currently under consideration in Washington.
“Artificially inflating prices of the energy our economy needs for a strong recovery is unproductive, unworkable, and unfair to American families and businesses,” NTU Executive Vice President Pete Sepp said. “Tax hikes should be off the table – instead, the President and Congress should be looking for ways to bring gasoline prices down.”
Currently, the President and some Members of Congress are calling for an end to the dual capacity credit, which allows American energy companies to deduct a portion of foreign taxes they pay from their U.S. tax bills, and to the firms’ ability to take a domestic manufacturing deduction allowed under Section 199 of the Tax Code. Both of these provisions are available to nearly all American businesses. However, President Obama and Congress are only seeking to repeal them for energy companies.