Today, Senators Jim DeMint (R–SC) and Mike Lee (R–ID) introduced legislation that would move the United States a giant step forward in making our country’s energy market freer by eliminating targeted tax credits for energy sources and technologies. Their legislation, a companion to Representative Mike Pompeo’s (R–KS) bill, would force any tax policy that picks certain industries as winners and losers in the market to expire at the end of the year and expedite sunsets for tax credits extending multiple years. And it goes after all targeted tax credits: oil, … More
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By Tad DeHaven
The Indianapolis Star recently profiled local boy makes good (handing out other people’s money) John Fernandez, the ex-Bloomington mayor and Obama fundraiser who now heads up the Economic Development Administration. A reference to an EDA taxpayer handout to a technology park in southern Indiana caught my eye: Southwestern Indiana got a $6.7 million boost from [...]
Obama and Daniels Team Up to ‘Shovel’ Subsidies is a post from Cato @ Liberty – Cato Institute Blog
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This past April, when Members of Congress introduced the New Alternative Transportation to Give Americans Solutions (NATGAS) Act that provides preferential tax treatment to subsidize the production, use, and purchase of natural-gas vehicles, the propane industry asked, “What about us?” Well, someone was listening, because a little over a month later Representatives John Carter (R–TX) and Dan Boren (D–OK) introduced the Propane Gas Act of 2011, which would provide a five-year extension for targeted tax credits for propane as a motor fuel, propane-powered vehicles, and propane autogas—propane converted to fuel … More
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