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U.S.’s fiscal issues won’t be fixed by targeting biggest contributors to national economy

Published: Thursday, Jan. 2, 2014 10:42 a.m. CDT

To the editor:

As Congress continues to work on a budget agreement that will prevent another government shutdown, I am afraid that some lawmakers will turn to certain cost-cutting measures that will negatively impact our current economic recovery.

There are many ideas being thrown around in Washington regarding how to reform the tax code. Some have suggested eliminating deductions that help keep the U.S. energy industry productive and fuel costs affordable. These cuts would cause severe economic harm.

The lower gas prices and cheaper costs to heat our homes have made a real and positive difference in everyone’s budgets. If oil and natural gas companies have to pay more in taxes as a result of reform, all Americans will pay more for fuel. I also believe that these policies will force our country to rely on greater amounts of foreign oil, and lessen our national security as a result.

I urge our representatives to reject proposals that would repeal energy industry tax deductions. Our country’s fiscal problems will not be fixed by singling out industries that are some of the biggest contributors to our economy with increased taxes.

Justin Fahrenkrug

Newton

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