Congressmen Gonzalez and Carey Introduce Bipartisan Bill to Boost America’s Energy Production 

BROWNSVILLE, TEXAS – Last week, Congressmen Vicente Gonzalez (TX-34) and Mike Carey (OH-14) introduced H.R. 5073, the Promoting Domestic Energy Production Act. This bipartisan bill would increase our country’s energy independence and allow energy companies to consider intangible drilling costs when calculating their income for tax purposes, similar deductions many other industries utilize.   

“Our country must be ready to face the energy challenges of the next few decades,” said Congressman Gonzalez.  “This commonsense bipartisan bill promotes our nation’s domestic energy production capabilities – ensuring we keep and create American jobs, lower energy prices, and decrease our dependence on foreign energy sources.”   

“American energy independence is neither a right nor left issue, but one that should unite us all,” said Congressman Carey. “Our bipartisan legislation fixes a provision within the Inflation Reduction Act that unfairly penalizes America’s energy producers. At a time of sky-high inflation, the American people need any help they can get when it comes to lowering the cost of energy.” 

A copy of the bill can be viewed here.   

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