By Reps. Mike Conaway, Jeb Hensarling and Sam Johnson Published in the Dallas Morning News Throughout the anemic Obama “recovery,” one of the bright spots in the economy has been the oil and gas sector. At a time when many Americans were struggling with unemployment or underemployment, this industry has provided good-paying jobs. In Texas, the oil and gas industry is responsible for nearly 2 million jobs and more than 20 percent of the state economy. Yet today, the Environmental Protection Agenc...
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Midland Reporter-Telegram Calvin Coolidge once said, "Collecting more taxes than is absolutely necessary is legalized robbery." Although problems abound in our current tax code, the revenue generated by it is not one of them. The last major reform of America's tax code was under President Reagan in 1986. Following his reforms, the percentage of income tax collected, as a share of our Gross Domestic Product (GDP), was fairly stable around 8 percent from 1987-1995. But through the last half of th...
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Last week we heard some very discouraging news from some of the nation’s top employers. Over 60,000 jobs were lost, U.S. retail sales posted the first drop in annual sales, and more bank failures were announced. The bad news seems to keep coming with no end in sight. No one refutes the severity of our current situation; but what is the best way to get us out of this crisis?
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On July 2, 1776, Congress adopted the Declaration of Independence, signed at the time by only Charles Thompson, the Secretary of Congress, and John Hancock, the presiding officer. It is because of this that John Adams predicted that Americans would come to celebrate their Independence on July 2nd every year. However it wasn’t until two days later, on July 4, 1776, that Congress approved a revised version of the Declaration and sent it to be distributed to states and military officers. Due to the...
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Representative K. Michael Conaway San Angelo Standard-Times Members of Congress have long resigned themselves to the knowledge that the American public does not think very much of them. Sadly, that does a great disservice to most of the members who were elected to serve in this great institution. The overwhelming majority of us are honest, upstanding people who have come to Washington to work hard on behalf of our constituents back home. Unfortunately, a few individuals have taken the time they ...
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Earlier this month, Exxon-Mobil once again announced record profits. These record profits, $40.7 billion to be exact, have been labeled “outlandish,” “unjustifiable,” “appalling” and “ruthless” by many in Congress. They believe that such profits gouge the American consumer and are consequently immoral. Yet what many people do not realize is that record profits result in record tax collection. Exxon-Mobil will pay close to $30 billion in taxes for its success. Unfortunately, not one of my Democr...
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As a fiscal conservative and free-trade advocate, I am often asked how I can support our current farm policy. I answer that question with a quote from President George Washington: "It will not be doubted that with reference either to individual or national welfare, agriculture is of primary importance." For me it is a matter of national security and a level playing field for American producers and consumers. A stable and sound agriculture policy that promotes an abundant source of affordable foo...
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In the heart of the nation's crude oil production, the friendly city of Odessa leads the way in energy diversification. The Odessa/Penwell site and the Jewett/Heart of the Brazos site remain two of the final four finalists' competing for the FutureGen initiative, a public-private partnership to develop the first zero-emission coal-fired power plant. The Permian Basin has long been a leader in energy production and research. The friendly, hard-working people of West Texas recognize the need for a...
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