According to the calculations by Americans for Tax Reform (ATF), the energy provisions in President Obama’s FY 2010 budget could result in an increase in the tax burden of as much as $10,000 per person each year.
The organization based its estimates on the tax increase costs of the carbon tax, Section 199 repeal and other energy tax hikes added together.
"When President Obama told the American people that he wasn’t going to raise taxes on over 90 percent of the population he lied," says Grover Norquist, president of ATF stressing that everybody uses energy, not just the rich.
Referring to the elimination of Section 199 for energy companies, Narquist adds, "If the President wants to eliminate an income tax cut for companies that create jobs in America and call it a ‘loop-hole closer’ instead of a direct increase in income taxes that will be passed onto every American family then he is insulting all of our intelligence."
Section 199 of the Internal Revenue Code allows for tax deduction for companies which engage in production within the U.S.
ATR is a non-partisan coalition of taxpayers and taxpayer groups who oppose all federal, state and local tax increases