October 26, 2023

Cassidy Leads Republican Senate Opposition to a Carbon Tax

WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA), member of the Senate Energy and Natural Resources and Finance Committees, led 14 Republican colleagues in opposing a carbon tax. The resolution highlights the negative impacts of a carbon tax such as discouraging domestic manufacturing and energy production, more jobs and businesses moving overseas, and lower economic growth.

“Increasing the cost of energy in the U.S. with a carbon tax merely incentivizes industry and those jobs to move to Asia where dirtier fuel is used without any environmental safeguards. This increases global emissions and weakens our economy,” said Dr. Cassidy. “We should be for Americans and the environment, not an ideological devotion to a domestic carbon tax.”

“American businesses already pay a de facto carbon tax in the form of environmental stewardship,” said Senator Cramer. “Piling on a new regressive domestic tax would disadvantage American workers by encouraging more investment overseas in places with lax environmental standards and more pollution. The last thing we need to do is undercut the American producers who continue to make significant strides in reducing emissions.”

“Over the last couple of years, we’ve seen no shortage of unrealistic and downright harmful policies that are advocated for in the name of reducing carbon emissions,” said Senator Cornyn. “The solution to a rising climate isn’t job-killing government regulations – it’s innovation and American ingenuity.”

“This resolution sends a clear message: Carbon taxes are bad for our national security and poor energy policy. Carbon taxes manipulate the market, causing sky-high energy prices and hindering our ability to compete against countries, like China,” said Senator Risch. “We cannot ignore our domestic energy resources and force Idahoans to foot the bill for the Biden administration’s radical green agenda.”

“President Biden’s war on domestic energy has raised prices for consumers and stifled progress made by the previous administration to achieve American energy independence,” said Senator Ricketts. “With stubbornly high inflation and global instability, we should be looking for ways to lower costs and increase energy production at home. A carbon tax would do the opposite.”

“Congress needs to be unwavering in its opposition to a misguided and detrimental carbon tax on fossil fuels—a blatant assault on our economy, our industries, and the livelihoods of hard-working American families. A carbon tax is nothing short of an elitist scheme by powerful environmental groups seeking to fool the American people for their own interests. We will beat climate change by championing innovation, not attacking hardworking Americans and putting the American Dream further out of reach,” said Senator Marshall.

“Bidenomics is driving up the cost of gas, food, and housing. The last thing we need is a new tax on energy. The best and most sustainable way to cut carbon is through innovation, not costly and heavy-handed taxes and regulation. I oppose a carbon tax. My focus is on a pro-growth, pro-development energy strategy,” said Senator Barrasso.

“Imposing a carbon tax on U.S. producers would take our nation in the wrong direction – hampering economic growth and raising costs for American families,” said Senator Hoeven. “Instead of raising taxes on energy development in this country, we should take the handcuffs off our energy producers to increase supply and lower prices for consumers. We have the resources right here in the U.S. to produce the energy our nation needs with good environmental stewardship.”

“On his first day in office, President Biden launched his all-out assault on domestic energy production, and his administration has consistently used executive fiat and onerous red tape to stifle efforts to achieve energy independence,” said Senator Lummis. “Implementing a carbon tax would be another blow to American energy dominance and national security. Our resolution will instead promote pro-growth solutions, and ensure jobs and businesses stay here instead of being shipped overseas to places like China or other adversaries.”

“At a time when Americans are being crushed by skyrocketing prices for gas, groceries, and electricity, now is the absolute worst time to create new taxes. A carbon tax would hamper energy production, make it harder to manufacture the goods that we need, and will make our country less productive. China is the world’s worst polluter, and Congress should not make it even harder for responsible American businesses who are leading the way in emissions reductions to compete. Thanks to Ranking Member Cassidy for leading this bold statement,” said Senator Budd.

“A carbon tax would seriously harm hardworking Texans and Americans. Such a tax would discourage domestic manufacturing and energy production, lead to job outsourcing, and hit working-class families particularly hard. It is imperative that Texans continue to have access to affordable energy, and that’s not possible if we implement a carbon tax alongside the radical climate agenda of the Biden administration,” said Senator Cruz.

“The demand by climate activists for a carbon tax is just one more weapon against American workers and industries.  Taxes are regressive and stifle growth and innovation.  A carbon tax would be no different, and we stress that fact with this resolution,” said Senator Hyde-Smith.

The U.S. Energy Information Administration projects that the U.S. use of liquid fuels and natural gas will increase at least through 2050. Furthermore, the U.S. has reduced greenhouse gas emissions more than any other country since 2005.

The resolution urges Congress and the president to focus on pro-growth solutions that encourage increased development of domestic resources.

Cassidy is joined by U.S. Senators Kevin Cramer (R-ND), Mike Lee (R-UT), John Cornyn (R-TX), Jim Risch (R-ID), Pete Ricketts (R-NE), Roger Marshall (R-KS), John Barrasso (R-WY), John Hoeven (R-ND), Cynthia Lummis (R-WY), Mike Rounds (R-SD), Ted Budd (R-NC), James Lankford (R-OK), Ted Cruz (R-TX), and Cindy Hyde-Smith (R-MS) in sponsoring the resolution.