By
Beacon Author
on September 8, 2010 at 09:18 am
North Dakota has been one of a small handful of states that has been able to maintain strong economic growth throughout the national recession. As leading financial experts warn of the dangers of a double-dip recession, policymakers in Washington are now considering a measure that could bring North Dakota's economy to a screeching halt.
North Dakota now ranks as the nation's fourth largest energy-producing state, behind only Texas, California, and Alaska. The rapid growth of North Dakota's energy industry is one of the main reasons that our state has been able to grow its economy and increase employment while other states are falling behind. Unfortunately, many of the same members of Congress responsible for the failed economic stimulus and the massive national health care plan are looking to target the domestic energy industry with job-killing tax increases.
Senator Max Baucus (D-MT) recently proposed an amendment to the small business jobs bill that would prevent energy manufacturers from taking advantage of Section 199 manufacturing deductions. This provision targets domestic energy producers with higher taxes, reducing the resources available for investment in improved infrastructure and new wells and making it harder for American companies to compete against foreign oil companies.
(For more information on this issue, click here to read my OpEd Article in the Grand Forks Herald.)
It is important that we send a clear message to our representatives in Washington: tax increases on energy will bring the recession home to North Dakota!
Please contact Senator Kent Conrad at (202) 224-2043 and Senator Byron Dorgan at (202) 224-2551 and ask them to oppose Senator Baucus' proposal to repeal the Section 199 deductions.
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Dustin Gawrylow
North Dakota Taxpayers' Association |
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