Ribble co-sponsors bill to eliminate energy subsidies

Earlier this month, Republican Representative Reid Ribble (WI-08) cosponsored legislation to eliminate energy subsidies.  Representative Ribble, an original co-sponsor, had this to say about H.R. 3308.

“This legislation will cut the federal subsidy leash that has been tied to energy industries for decades and prevent the government from picking winners and losers in the market,” said Ribble. “Government subsidies have unjustly given sizeable, stable industries preferential tax treatment to the tune of billions of dollars. This imbalanced system has not only helped foster a lopsided marketplace but also left taxpayers the bill to pay for it. “For far too long, the energy industry has reaped enormous, special benefits at the expense of hardworking Americans. This legislation will put businesses and energy technologies on a more equal footing in the marketplace and help end the cycle of biased treatment, artificial prices, and taxpayer exploitation that has come from decades of government sanctioned subsidies. Ending industry-driven tax credits represents one component of the comprehensive tax reform that I believe will help grow the economy and put the federal government’s balance sheet truly back into balance. It’s time for government to step aside, let industries, such as oil, natural gas, and ethanol, hold their own in the marketplace and allow the American people to decide the economic winners.”

Since it’s been introduced and referred to committee, H.R. 3308 has also gained the support of fellow Wisconsin Republicans Paul Ryan (WI-01) and Sean Duffy (WI-07).

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