IV 112th CONGRESS 1st Session H. RES. 267 IN THE HOUSE OF REPRESENTATIVES May 12, 2011 Mr. Pompeo (for himself, Mr. McClintock, and Mr. Labrador) submitted the following resolution; which was referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned RESOLUTION Expressing the sense of the House of Representatives that the United States should end all subsidies aimed at specific energy technologies or fuels.

Whereas companies continue to innovate and adapt to a growing and volatile energy market; Whereas the primary role of the Government in the energy markets is to create an economic climate where companies can continue to innovate and compete, and thereby provide value and affordability to families and businesses; Whereas it is not the role of the Government to favor one fuel source or energy sector over another; Whereas taxpayers have subsidized the energy industry with grants, direct loans and loan guarantees, and tax credits aimed at specific industries for decades; Whereas deductions and cost-recovery mechanisms available to all energy sectors are different than credits, loans and grants, and are therefore not taxpayer subsidies; Whereas a deduction of costs and cost recovery with respect to timing is not a subsidy; Whereas the current system of energy subsidies is opaque and unduly complex; Whereas energy subsidies have consistently failed to bring down the price of gasoline for consumers, and electricity and natural gas for industrial users; and Whereas eliminating energy subsidies from the Internal Revenue Code of 1986 will allow us to lower the overall rate of corporate income tax without increasing deficits: Now, therefore, be it

That the House of Representatives should— (1)provide no new energy subsidies by refusing any legislative proposal that includes new energy subsidy programs of any kind; (2)prohibit the expansion or extension of existing energy subsidies; (3)eliminate existing energy subsidies; and (4)begin tax simplification and reform by eliminating energy tax credits and deductions and reducing income tax rates.