Tuesday, January 31, 2012

NAT GAS Act naturally bad

Americans for Prosperity argues, rightly in my opinion, that Congress needs to focus on simplifying our tax code, not picking winners and losers. Last spring a Republican and a Democratic member of the House introduced H.R. 1380, the NAT GAS Act. It proposes the expansion of tax breaks--and creating some new ones--for the sale, production, and the conversion of natural gas-powered vehicles.

We're not talking nickles and dimes. According to the Heritage Foundation, among those breaks are a $64,000 tax credit for each natural gas-powered truck and $100,000 for each fueling station.

AFP composed an open letter to Congress about this boondoggle, which you can read here.

Who could be a major beneficiary of this crony capitalism valentine?

Leftist gazillionaire George Soros is one, and another ├╝ber-rich guy, T. Boone Pickens, who was blowing wind power down our throats four years ago, is another.

UPDATE February 2: John Sullivan is the Republican who introduced the NAT GAS Act, and he is the recipient of a $4,800 campaign contribution from Pickens.

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