Recently, a group of Congressman signed a letter to both President Obama and Speaker Boehner urging the elimination of $50 billion in oil and gas tax credits as part of fiscal cliff negotiations.

This would be a terrible mistake.

The oil and gas companies in this country are responsible for more than nine millions jobs and billions of dollars that these companies pay every year.  Those dollars are invested into our local communities and with the jobs that these companies create that means more income for American workers.

One specific credit that the President would like to eliminate is what is known as dual capacity. Dual capacity tax laws give tax credits to US companies operating abroad so that they do not get taxed twice on the income they generate both abroad and at home. Taking away this incentive will harm oil and gas companies, leading to higher prices at the pump and in the grocery store.

When millions of people in the United States are looking for work we should not punish those job creators with crushing tax increases.

Act now and let Senator Thune and Congresswoman Noem know that South Dakotans do not want taxes raised on any business.

John Thune:

Phone:  (202)-224-3231

Kristi Noem:

Phone: (202)- 225-2801

***Gordon Howie is a nationally syndicated author, host of Liberty Today TV and CEO of Life and Liberty Media***

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