Tuesday, September 13th, 2022
ATLANTA – Today, Team Herschel released the following statement after a report from the non-partisan Tax Foundation showed that Warnock’s Taxing Big Oil Profiteers Act “would risk making our economic situation worse, not better.”
“The bill does not address this problem…this tax would reduce the incentives to invest in new production,…Ultimately, all three of the proposed policies would fail to address high oil prices, and more likely would raise prices by penalizing domestic production…Instead, they punitively target one industry without a sound tax base in mind.”
To read the full report, click HERE.
“Once again, Raphael Warnock has introduced a bill that does not solve the problem at hand,” said spokesman Will Kiley. “Warnock’s votes created the high gas prices Georgians have been paying for over a year. Raphael Warnock voted against increasing domestic energy production, voted against restarting the Keystone XL pipeline, and against ensuring American energy independence. Washington Warnock only cares about election year political gimmicks and blaming others for problems he created.”