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On behalf of the nearly 850,000 FreedomWorks members nationwide, I urge you to VOTE NO on H.R. 2776, the Renewable Energy and Energy Conservation Tax Act of 2007. This energy bill would scale back gains in domestic exploration and capacity that would impose ultimately be borne by consumers. In addition, this bill would increase oil production costs by revising section 199 of the tax code, which would eliminate funds for domestic energy production and exploration in order to provide tax breaks for alternative fuel production. These changes would saddle domestic energy suppliers with costly new taxes that will raise prices for consumers.
With the cost of our domestic oil exploration and production increasing by nearly $10 billion every year and gas prices rising by the day, now is not the time to hamstring the American economy by mandating the use of alternative energy sources that may have only limited capabilities in today’s marketplace. Although alternative energy sources hold promise for the future, significant challenges and research remain before they can provide reliable and cost-effective energy for American consumers. Congress should promote free market solutions that promote open competition among all fuels rather than attempt to pick winners and losers in the energy marketplace.
Reverting to the misguided policies of the past will increase our dependence on foreign fuel sources as well impose new burdens on taxpayers and consumers. We will count your vote on H.R. 2776 as a KEY VOTE when calculating the FreedomWorks Economic Scorecard for 2007. The FreedomWorks Economic Scorecard is used to determine eligibility for the Jefferson Award, which recognizes members of Congress with voting records that support economic freedom.
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