Congressmen Gonzalez, Carey Introduce Bipartisan Bill to Unleash American Energy Production

WASHINGTON, D.C. – Last week, Congressmen Vicente Gonzalez (TX-34) andMike Carey (OH-14) re-introduced the Promoting Domestic Energy Production Act. This bipartisan bill would increase our country’s energy independence, drive down the price of oil and gas, 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.”    

“Affordable energy, produced here at home, will bring down costs and prevent America’s reliance on our foreign adversaries. We need to eliminate roadblocks to domestic energy production, starting by restoring common-sense tax deductions that every other industry is allowed to utilize,” said Congressman Carey. 

###