Click for more about the Pledge.
According to ATR’s blog:
The Senate energy compromise, which started out as the “Gang of Ten”, has now grown to the “Gang of 20”.
I guess they might have been thinking “strength in numbers.” But, that would be wrong.
This plan accomplishes several things; unfortunately, most of them are bad.
First, they allow four states (VA, NC, SC, GA) to opt-in to OCS drilling. In doing so, they make the drilling ban permanent in legislation for the other 46 states. Rather than just allowing the moratorium to expire as Sen. DeMint and Rep. Hensarling are calling for.
Second, in repealing Sec 199, this plan violates ATR’s Taxpayer Protection Pledge as it results in net income tax increases. Comprehensive solutions to our nations energy crisis should never begin with a tax increase.