McConnell Forces Libs to Strip Energy Bill of Tax Increases

One of Mitch McConnell’s underreported successes this year was the victory in stripping the energy bill of tax hikes and regulatory burdens that could have been disastrous for American small businesses. The energy bill, in addition to increasing fuel efficiency standards for future automobiles, would have originally required investor owned utility companies to generate 15% of the energy they produced through renewable energy. The bill would have also increased taxes on energy companies by nearly $22 billion.

Obviously, in the liberals’ magical world, this 15% would have been easy to achieve and the $22 billion in increased taxes would come from wealthy utility executives’ bank accounts. In reality, the increased costs would be passed on to consumers and would affect our economy. The burden could be especially hard felt by American small businesses. Here’s how one organization affiliated with the National Black Chamber of Commerce described the dangers of the original energy bill:

Reducing US energy demand though higher domestic prices will result in cheaper energy for China, India and other trade competitors. Higher energy prices will also slow down our economy and encourage even more job loss to foreign competitors... Energy prices are set by supply and demand and on a global scale the small change in US demand for oil will not make an impact on the world market because the demand from China, India, is so great.

McConnell’s use of the filibuster has been criticized by the state’s liberal news media, but its effectiveness in ridding HR 6 (the energy bill) of its most onerous provisions is something proponents of America’s small businesses should celebrate.

A footnote: Senator Bunning joined in the fillibuster of this bill and deserves credit as well.

Orginally posted at www.cyberhillbilly.blogspot.com