Congress’ proposed methane tax will raise prices, hurt disadvantaged
Rising inflation and higher gas prices are upon us, and now some in Congress want to slip an inequitable, punitive tax into the pending $3.5 trillion reconciliation bill.
The proposed methane tax will raise home heating costs and already-high gas prices, and the prices of thousands of everyday products derived from oil and gas. That’s before higher transportation and energy costs increase expenses for businesses, which will filter through the entire economy.
There is no excuse for any party to try and tax an industry out of existence, especially one that affects everyone’s wallet. Energy costs disproportionately affect low- and fixed-income families in Ohio, so punishing an industry critical to our economy creates injustice because it forces financial harm on the undeserving.
It’s as nonsensical as curbing American energy production and then begging OPEC to export more – especially when America has delivered the world’s largest emissions reductions for two decades straight. U.S. energy companies have cut emissions by almost 70% from 2011 to 2019, and they are working on industry initiatives and innovations to reduce them further.
Congressional representatives should reject this tax before it adds more inflation and high gasoline prices, without actually reducing emissions. We don’t want a repeat of the 1970s.
Chris Ventura, Midwest executive director of the Consumer Energy Alliance