Despite the lengthy battle Speaker Kevin McCarthy needed to take control of the chamber, House Republicans have already netted some impressive victories. They forced President Joe Biden to issue his first veto to protect his costly and wrongheaded environmental, social, and governance regulations…
Despite the lengthy battle Speaker Kevin McCarthy needed to take control of the chamber, House Republicans have already netted some impressive victories. They forced President Joe Biden to issue his first veto to protect his costly and wrongheaded environmental, social, and governance regulations that will raise domestic energy prices and slash pensioners' income from retirement investments.
That could change this week as the House takes up H.R. 1, the Lower Energy Costs Act. This is something House Republicans urgently need to pass. The bill is full of smart policy changes, including a ban on states blocking interstate infrastructure projects , a $6 billion tax cut on natural gas production, and fairer revenue-sharing between states and the federal government from energy produced on public lands.
More importantly, the bill takes aim at the single biggest factor making U.S. infrastructure projects unnecessarily expensive: the 1970 National Environmental Policy Act. This lets environmental activists block any infrastructure project that uses even a dime of federal monies or requires the approval of even one federal agency. The average NEPA review of a federally funded project takes more than 4 1/2 years and costs $4.2 million.
Not only would getting the Low Energy Costs Act across the finish line in the House represent a real accomplishment for Republicans, but it would also set up bipartisan action, either as a stand-alone measure or as something Republicans could secure in exchange for raising the debt limit.
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