Domestic Energy Independence

All-of-the-above energy, produced here at home, will bring down consumer prices, end dependence on our adversaries for key resources and safeguard our national security.

We’ve been hard at work in Congress to unleash American energy independence. The first step: making it easier to harness our energy resources.

Our Promoting Domestic Energy Production Act will treat the oil and gas industry like other capital intensive industries, allowing producers to deduct their Intangible Drilling Costs (IDCs). IDCs make up 85 percent of the initial investment in oil exploration and well development, and mainly consist of labor costs. Allowing producers to deduct IDCs will free up funds for them to reinvest in development and job creation.

We’re also working to reduce burdensome energy costs. Our Pay Less at the Pump Act, which eliminate the Hazard Substance Superfund Financing on crude oil imports. By ending this tax, Americans will save an estimated $10.5 billion over the next ten years.

As we support an all-of-the-above future, we must ensure that taxpayer funds are being spent responsibly in the process. Our Clean Energy Demonstration Transparency Act, which passed the House with bipartisan support, will provide much-needed oversight to the Department of Energy’s Office of Clean Energy Demonstration. In 2021, the Department of Energy blew their budget by more than $300 million on a clean energy project, designing four facilities which were never actually built. We were proud to lead on this common-sense legislation to protect taxpayer dollars and support all-of-the-above energy independence.