Proposed Energy Tax Reform Would Harm the Economy and Iowa Businesses

In Hancock County,  we work hard to take care of our families and our neighbors in an effort to prosper in our little corner of the world.  And although we do not work in close relation to our legislators in Washington D.C., the decisions made there ultimately affect everyone and national-scale issues and proposals have the potential to drastically alter our local economy. For example, the energy tax reform proposed by the President’s Administration that seeks to raise taxes solely on our domestic energy producers, will affect Iowa immensely.

Higher taxes on Iowa’s natural gas and oil producers would mean local economies, like ours, would be faced with higher fuel prices and potential job loss. Many small businesses, such as Stellar Industries, would be hit with drastically higher operating costs as a consequence of these taxes.

In Iowa alone, nearly 65,000 jobs are supported by our domestic energy industry. At Stellar, over 250 of our jobs rely on Iowa’s natural gas and oil partners’ support; many of which would be directly impacted if these taxes become law. Not only is affordable energy critical to the operations of our factories, but domestic gas and oil producers are key consumers of the products we design and build here in Garner.

I urge our lawmakers to pay attention to this issue as it has the potential to impact every Iowan. I hope they will support our local economies and stand up against raising taxes on our domestic energy producers.  I also urge you to help make a little noise by reaching out to your representatives and tell that this is an important issue to you, your community and our economy.  Tell them to fight against higher taxes and support local business.  With all our our voices – together we will be heard.