[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 393 Introduced in House (IH)]

111th CONGRESS
  1st Session
H. RES. 393

  Expressing the sense of the House of Representatives that the Obama 
administration and Congress should end the assault on America's energy 
    independence by leaving in place domestic energy tax incentives.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 30, 2009

 Mr. Tiahrt (for himself, Mr. Sessions, Mr. Fleming, Mrs. Lummis, and 
  Mr. Moran of Kansas) submitted the following resolution; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                               RESOLUTION


 
  Expressing the sense of the House of Representatives that the Obama 
administration and Congress should end the assault on America's energy 
    independence by leaving in place domestic energy tax incentives.

Whereas if the Obama administration is serious about helping America become more 
        energy independent, then eliminating energy exploration and 
        manufacturing production incentives that have been in place since the 
        early 1900s is not the answer;
Whereas President Obama's fiscal year 2010 budget proposes to cut energy 
        production incentives that will make America more dependent on foreign 
        sources of oil;
Whereas the Obama administration is proposing an assault on American energy 
        manufacturing by eliminating the Intangible Drilling and Development 
        Costs (IDC) tax deduction for manufacturers that has been in place since 
        1916;
Whereas according to the Congressional Research Service, the IDC tax deduction 
        reduced marginal effective tax rates in the oil and gas industries, 
        reduced production costs, and increased investments in locating energy 
        reserves;
Whereas eliminating the IDC tax deduction incentive will cripple independent oil 
        and gas producers in America and will not lead us closer to energy 
        independence;
Whereas the Percentage Depletion (PD) tax incentive enacted in 1926 is another 
        economic tool that will be eliminated under President Obama's budget 
        proposal;
Whereas the PD tax incentive enacted in 1926 is not available to integrated 
        major oil companies--it is available only for independent producers and 
        royalty owners;
Whereas eliminating this incentive will cripple independent oil and gas 
        producers in America and will not lead America closer to energy 
        independence;
Whereas the Obama administration has proposed eliminating the marginal well tax 
        credit that acts as a resource to support American energy production;
Whereas marginal wells account for 20 percent of American oil and 12 percent of 
        natural gas;
Whereas eliminating this energy production incentive has the potential to 
        cripple independent oil and gas producers in America and will not lead 
        us closer to energy independence;
Whereas there are several other pro-American energy provisions that will be 
        eliminated in President Obama's budget, including the enhanced oil 
        recovery tax credit, geological and geophysical amortization, 
        manufacturing tax deduction, and the excise tax on Gulf of Mexico 
        production;
Whereas America deserves a comprehensive, bipartisan energy plan that opens up 
        our domestic resources, incentivizes the discovery of renewable 
        technologies and encourages conservation;
Whereas this is the policy that will lead America into energy independence;
Whereas Congress should encourage the production of more energy using America's 
        natural resources that utilizes our American workforce;
Whereas we currently have trillions of barrels of oil available off our 
        shorelines and on Federal lands;
Whereas Americans are known for their great ideas and ingenuity;
Whereas we should harness that tremendous opportunity to discover new ways of 
        producing energy that will make us more energy independent;
Whereas we should continue investing in new alternative forms of energy;
Whereas Congress needs to encourage greater energy efficiency by offering 
        conservation tax incentives to Americans who make their home, 
        automobile, and business more energy efficient;
Whereas we can do this by supporting technologies to help increase energy 
        efficiency in all sectors of the American economy, including removing 
        bureaucratic regulatory barriers that prevent businesses from upgrading 
        their facilities with newer, more efficient energy technologies;
Whereas we should not remove economic incentives for America's oil and natural 
        gas producers and workers that will effectively raise taxes on 
        businesses keeping them from hiring additional workers; and
Whereas higher energy tax rates on producers will be passed along to consumers 
        and threatens our security by leaving us more dependent on foreign 
        nations for our energy needs: Now, therefore, be it
    Resolved, That it is the sense of the House of Representatives that 
the Obama administration and Congress should end the assault on 
America's energy independence by leaving in place domestic energy tax 
incentives.
                                 <all>