Pro-growth tax policies can spur innovation, bolster domestic energy security

Jeff Luse made the case for pro-growth tax policies to spur energy innovation in The Hill.

A new tax season is nearly upon us, and after a year of record inflation and astronomical energy costs, American consumers and businesses in the energy sector need a break. Congress can provide that relief by addressing issues within the tax code which — if left untouched — will soon harm American energy security and stall innovation.

The year 2023 is shaping up to be a challenging economic year. After record inflation hit families hard in 2022, market analysts are predicting that America will experience a slowdown in economic growth. Meanwhile, consumers and businesses alike can expect energy prices to surge in the near term as demand increases in the winter months and refinery capacity stays at current levels. 

To bolster domestic energy security and protect consumers from future price shocks, lawmakers should enact pro-growth tax policies to spur energy innovation. They should start by expanding the research and development (R&D) tax credit for businesses and organizations. 

Read the full article on The Hill.

Subscribe to our exclusive email designed for conservatives who care about climate.

Help us promote free market solutions for climate change.

Thank you for signing up

Help us promote sensible solutions for both planet and prosperity.