SCRIPT: Newsbreak, I'm Brian Osuch. President Obama just rolled out his 2013 budget proposal, with the White House billing it as the "blueprint to rebuilding the economy where hard work pays off and responsibility is rewarded." But, the American Petroleum Institute's Senior Economic Advisor, Rayola Dougher says they're seeing the opposite.
CUT: (Dougher) The oil and natural gas industry has created hundreds of thousands of new jobs, returns more than eighty-six million in government revenue every day and has increased our national security. We don't understand why the president is raising taxes on an industry that is helping build a stronger America.
SCRIPT: Dougher says the tax increases will be catastrophic on the economy and energy security.
CUT: (Dougher) These discriminatory tax increases won't help generate revenue. They'll push oil and natural gas investment overseas and diminish job creation and economic activity in our own country. This will lead to more imports, and decreased tax, royalty and other revenues, making it harder for the nation to manage its budget challenges.
SCRIPT: For more, log onto Energy-Tomorrow-dot-org. That's Newsbreak from the API.
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