The report notes that Speaker Pelosi’s new national energy tax would:
- Reduce total personal consumption by 0.3 percent to 0.5 percent, or about $1 trillion to $2 trillion in from 2010 to 2050;
- Reduce the level of U.S. Gross Domestic Product (GDP) by around 2.5 percent relative to what it otherwise would have been in 2050;
- Reduce employment levels by 0.5 percent in the first 10 years alone.
House Republicans have a better solution: an “all of the above” energy strategy that will clean up the environment, create jobs in America, and lower energy prices – without raising taxes on a single American family or small business. Led by Republican Conference Chairman Mike Pence (R-IN), the GOP American Energy Solutions Group has outlined the cornerstones of the House Republican approach to energy:
- Increasing environmentally-safe energy production on remote lands and far off our shores;
- Promoting the use of alternative fuels that will reduce carbon emissions, such as nuclear, clean-coal, and renewable energy technologies; and
- Encouraging increased efficiencies and cutting edge technologies to maximize America’s energy potential.