Hoeven Continues Pushing Back on Biden Administration's Harmful Energy Policies

Senator, Colleagues Press Treasury Secretary on Biden Budget’s Proposed $100 Billion in Tax Increases on U.S. Energy Producers

WASHINGTON – Senator John Hoeven (R-N.D.) this week joined Senator John Barrasso (R-Wyo.) in sending a letter to Treasury Secretary Janet Yellen to push back on energy tax increases proposed in President Biden’s budget request for Fiscal Year 2024. Specifically, the senators outline the harmful impact of the administration’s proposed $100 billion in targeted tax increases on energy, including the production of oil, gas, and coal. 

The senators highlight how these taxes will crush jobs, raise energy prices for American families and give our adversaries, including Russia, the upper hand in the global energy markets.   

“Unbelievably, the administration would willingly suppress domestic energy production knowing it means fewer jobs and higher prices for the American people. These crushing tax proposals, paired with the administration’s heavy handed regulations and mandates, would threaten American families’ access to affordable and reliable energy, while giving our adversaries the upper-hand in the global energy markets,” the senators wrote. “America is fortunate to have abundant energy resources. Our nation needs to be focused on unleashing American energy and innovation instead of throwing away one of our biggest economic and geopolitical advantages.”

Cosigners of the letter include Senators Mike Crapo (R-Idaho), Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Kevin Cramer (R-N.D.), Dan Sullivan (R-Alaska), John Cornyn (R-Texas), J.D. Vance (R-Ohio), James Lankford (R-Okla.), Rick Scott (R-Fla.), Jim Risch (R-Idaho), Thom Tillis (R-N.C.), Mike Braun (R-Ind.), Katie Boyd Britt (R-Ala.), Tim Scott (R-S.C.), Marsha Blackburn (R-Tenn.), Steve Daines (R-Mont.), John Kennedy (R-La.), Shelley Moore Capito (R-W.Va.), Bill Cassidy (R-La.), and Ted Cruz (R-Texas). 

The full text of the letter can be found here.