Republicans in the Senate propose legislation to eliminate methane fee

Senator Ted Cruz’s Initiative

Senator Ted Cruz is spearheading a movement to abolish the Inflation Reduction Act program, aimed at reducing methane leaks – a potent greenhouse gas that contributes to global warming.

Political Context

This legislative action coincides with Senator Cruz’s reelection campaign in Texas, a state known for its energy production. Oil and gas industry players in Texas have expressed strong opposition to the methane fee established under the Democrats’ prominent 2022 climate legislation.

Cruz’s Statement

In a statement released on Tuesday, Senator Cruz criticized President Joe Biden and his administration, accusing them of prioritizing a radical climate agenda over the welfare of American citizens. He introduced the “Natural Gas Tax Repeal Act” to counteract the methane emissions fee.

Impact on American Economy

Senator Cruz highlighted that the policies of the Biden administration have led to increased inflation, jeopardizing job opportunities and energy independence in the United States. The methane emissions fee, if implemented under the Inflation Reduction Act, would exacerbate these challenges. Cruz emphasized that the fee would particularly harm Texas, affecting producers in the Permian Basin and throughout the state.

Read More of this Story at – 2024-05-28 20:27:00

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