U.S. Senators Tommy Tuberville and Ted Cruz (R-TX) are working together on legislation that would protect lower income Americans from rising energy costs and chart a path to American energy independence.
Cruz’s bill, sponsored by multiple Senate Republicans, will repeal the Natural Gas Tax found in the Biden administration’s Inflation Reduction Act. The new, controversial law from Biden’s EPA created increased operational costs for many American energy companies and in turn higher costs for everyday consumers.
Estimates currently indicate that the tax alone will raise the cost of household energy bills for 180 million Americans and 5.5 million businesses.
According to Tuberville (R-Auburn), the legislation specifically eliminates the methane emissions charges found in the law ensuring more affordable energy for Americans.
RELATED: Sen. Tuberville calls on Congress to ‘reverse Biden’s radical energy agenda’
“The Biden administration has once again prioritized woke climate activists over the American people,” said Tuberville. “Since day one in office, Joe Biden has waged war on American energy – driving up costs and sending American jobs overseas. The last thing Americans need right now are higher taxes and government red tape.”
“I am proud to join this legislation which puts American taxpayers first and works toward American energy independence.”
The methane emissions tax under the IRA starts in calendar year 2024 at $900/ton of methane, increases to $1,200/ton in 2025, and increases to $1,500/ton in 2026 and subsequent years. The fee on methane emissions will impact pipeline operators and both oil and gas producers.
U.S. Rep August Pfluger (R-TX-11) introduced the companion legislation in the U.S. House of the Representatives that has already passed the chamber.
Austen Shipley is a staff writer for Yellowhammer News. You can follow him on X @ShipleyAusten
