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).
Greetings everyone, Congressman Ribble is going to be holding an event on Saturday August 13 from 1:30-3pm at the Radisson Paper Valley Hotel in Appleton in the Pippin Room for Tea Party members. The hotel is at 333 W. College Ave. in Appleton. Congressman Ribble will be presenting a PowerPoint, discussing recent votes, and then doing a Q&A with attendees. Please share this with those you believe would like the opportunity to attend. Please call me with any questions at 920-380-0061. Please have people RSVP at the same number. Thanks and I hope to see you there! Rick
Perhaps a question to ask is why isn’t the event being held in Green Bay instead of in the southern most part of the 8th district? Green Bay would be easier to get to for constituents in the northern reaches of the district.
Yes it’s nitpicking but it would let people know there is a Green Bay office. Wonder how many constituents realize that since there wasn’t an event for it’s opening.
At any rate if you are able to, be sure to attend what could be an interesting and informative event.
“What’s frustrating to me is the solution still is on the table in the Senate,” he said. Ribble was referring to a House measure, which the Senate tabled, that called for $4 trillion in government spending cuts over the next decade.
Ribble, who owned a roofing business before being elected to Congress last year, said the government’s debt issue is everyone’s problem. Government bondrates influence interest rates on an assortment of consumer loans.
“It will effect borrowing rates, and interest rates could sneak up because of it,” Ribble said. “There was a dramatic loss of wealth (Monday), which creates more uncertainty, which could lead to reduced amounts of capital for investments. This is a big problem.”
As Congressman Ribble points out, this is a wake-up call.
“Hopefully this will be a wake up call to not just the American people, but its government to get its fiscal house in order,” said Congressman Reid Ribble, a Republican representing the 8th District.
Time will tell if government finally gets what “we the people” have known for some time.
“The biggest threat to our country’s long-term economy is not the debt ceiling, but rather the sizeable debt itself,” said Ribble. “The enormous debt that has accumulated through decades of limitless deficit spending has eroded our economy and put our children’s future at risk. I have said time and again that this destructive trend must stop with our generation or future generations are at tremendous risk. This bill begins that process.
“I’ve also said repeatedly that you get out of debt the way you got in it – over time and incrementally – and this is exactly what the Budget Control Act does. I wish it was the bill I helped author, Cut Cap and Balance, but The Budget Control Act achieves something that has not happened in decades: two consecutive years of reduced government spending. The path to putting our nation’s fiscal house back in order will be long, but at least we’re starting to move in the right direction.
“While the plan does not provide the breadth of spending cuts I would like, it does structurally change our country’s spending habit through enforceable spending caps. It will hold Congress accountable for its spending and for the first time in 15 years, both the House and Senate will have a debate on a Balanced Budget Amendment to the Constitution.
“After accumulating $14.3 trillion debt and facing the threat of default, Congress finally quit bickering, set personal attacks aside and got to work. I wish it were stronger but this plan is a step in the right direction, not only for the government, but for the American people.”
Now let’s just hope it’s a step forward that isn’t followed by two-steps back. In other words let’s take the next step and hold firm on pushing for some significant cuts.