Home > newsroom > Page
Study Finds President Obama’s Proposed Oil and Gas Tax Hikes Will Cost Jobs, Slow Economic Recovery
Lead to 154,000 lost jobs, over $341 billion in lost U.S. economic output and $68 billion in lost wages

WASHINGTON, D.C., September 13, 2010 - House Natural Resources Committee Ranking Member Doc Hastings (WA-04) issued the following statement on today’s report by Louisiana State University Endowed Chair of Banking and economist Dr. Joseph R. Mason on the economic impacts of President Obama’s proposed tax increases on oil and gas.  The report concluded that the President’s proposed tax hikes will cost over 154,000 jobs by 2011, $341 billion in lost U.S. economic output and $68 billion in lost wages.

“While millions of Americans are struggling to find jobs, the Obama Administration is planning to put even more people out of work in order to satisfy its big government agenda.  Dr. Mason’s report is a perfect illustration of how tax increases will only delay our economic recovery and hurt middle class Americans at a time when they can least afford it.  The Administration must abandon these tax increases on energy and also prevent the looming tax hikes facing every American and small business.  Instead of passing job-killing policies, we should implement Republican Leader Boehner’s two-part plan to freeze tax rates and cut government spending.”

###

Print version of this document


Contact: Jill Strait or Spencer Pederson (202) 226-2311

Latest News

Bishop, Amata: Hawaii Marine Monument Expansion is Unjustified, Devastating for Local Economies

Today, President Barack Obama expanded the Papahānaumokuākea Marine National Monument off the coast of Hawaii by 442,781 square miles. Natural Resources Committee Chairman Rob Bishop (R-UT) and Congre...... Read more

Bishop: National Park Service Centennial Serves as an Opportunity to Address Management Challenges

House Committee on Natural Resources Chairman Rob Bishop (R-UT) issued the following statement commemorating the Centennial of the National Park Service: “Our national parks are a uniquely American co...... Read more

President’s Maine Monument Decree Subverts Representative Democracy to Advance Elite Special Interests

Today, President Obama, despite opposition by Maine’s local residents and elected officials, unilaterally created a national monument in Maine’s North Woods. House Committee on Natural Resources Chair...... Read more

View All News

Calendar

No upcoming scheduled events

View All Events