Idaho Congressman Raul Labrador co-sponsoring legislation that would eliminate US$90M in energy tax subsidies, including those toward renewable projects, over next 10 years
November 4, 2011
– Idaho Congressman Raul Labrador says it's time for the federal government to get out of the business of subsidizing energy projects.
The Republican announced Thursday he is co-sponsoring legislation that would get rid of all energy subsidy programs, including tax incentives for renewable projects.
Labrador says instead of tapping taxpayers to subsidy dollars, he would rather let the free market determine and guide the nation's energy development.
The measure calls for eliminating $90 million in energy tax subsidies over the next 10 years and reduce the corporate tax rate by the same amount.
The bill also has the backing of groups like Americans for Tax Reform and Americans for Prosperity, which is backed by oil billionaire David Koch and lobbies for lower taxes and less government regulation.
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