Rep. Mike Pompeo says Congress’s rejection this week of two energy industry tax breaks will save taxpayers “an enormous amount of money.”
“For the first time in a long time, the Senate and Congress rejected continuing down this failed set of policies of taking money from tax payers and throwing it at politically connected energy industries,” Rep. Pompeo told Newsmax.TV during an interview from his district in Kansas.
The Senate failed to pass a measure Tuesday that would have created subsidies, in the form of tax breaks, for alternative energy programs, including wind and solar. The Senate also voted down the NAT GAS Act, which would have provided similar subsidies for the natural gas industry.
“It was a good day for the American tax payer and for energy and jobs as well,” Rep. Pompeo said.
Pompeo, along with Sens. Jim DeMint of South Carolina and Ron Johnson of Wisconsin proposed companion legislation that would have ended all subsidies for energy companies while reducing the overall tax rates at the same time. That bill failed to receive the 60 votes needed to pass.
“We didn’t quite get as far as we want,” Pompeo said.
When asked if the elimination of these natural gas and renewable energy subsidies could lead to the end of subsidies in other sectors of the economy like agriculture, Rep. Pompeo said: “Definitely. I definitely see it.”
“I think we are seeing the American people demand, and I think elected officials are beginning to reflect this notion of, you know, get out of this business of picking winners and losers. Don’t allow politically connected folks to get their particular tax breaks.”
© 2021 Newsmax. All rights reserved.