Pompeo Calls for Support for Bill to Repeal Energy Tax Subsidies

From: The Honorable Mike Pompeo

In response to the inclusion of numerous costly energy tax subsidies in the recently-passed fiscal cliff legislation, including an expanded wind Production Tax Credit (PTC), I invite you to join me in co-sponsoring the Energy Freedom and Economic Prosperity Act (EFEPA). Previously introduced in the 112^th Congress, EFEPA would repeal tax credits for both renewable and conventional sources of energy, including the:

• Wind Production Tax Credit

• Alternative fuel and alternative fuel mixture credits

• Cellulosic Biofuel Producer Credit

• Alternative fuel infrastructure credits

• Plug-In electric and fuel cell vehicle credits

• Investment Tax Credit for equipment powered by solar, fuel cells, geothermal or other specified renewable sources

EFEPA is even more critical in light of recent congressional action, which not only extended these subsidies, but in the case of the wind PTC, expanded them even further. As a result, taxpayers are on the hook for nearly $20 billion this year alone.

Regardless of how you voted on final passage of the fiscal cliff legislation, I hope we can all agree that these energy tax credits foisted upon the House at the last minute represent bad energy policy and bad tax policy. Let's repeal these costly subsidies now.

The deadline for original co-sponsors is COB TODAY. To co-sponsor the EFEPA, please contact Chris Parinello at chris.parinello@mail.house.gov or x6-4539.