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How the Lower Energy Costs Act would help lower energy prices for Hispanics

<strong>How the Lower Energy Costs Act would help lower energy prices for Hispanics</strong>

The Hispanic community is still recovering from the pandemic and continues to struggle with high inflation driven by energy costs.

In order to address our country’s energy crisis, the Lower Energy Costs Act (H.R. 1) was introduced in the House of Representatives. This act is a collection of bills that aim to increase American energy production, through permitting reform, rolling back regulatory burdens, and fixing broken supply chains.

Taken together, the Lower Energy Costs Act would help American families afford their basic necessities and decrease reliance on foreign nations to power our homes and cities.

Why the U.S. Hispanic community would benefit from H.R. 1

The Hispanic community in particular stands to benefit from the passage of H.R. 1 both as consumers and as a key part of the energy industry’s labor force.

Our community is disproportionately hit by high energy process, paying 20% more in energy bills than the median American family. This can mean cutting back on groceries or other necessary expenses in order to keep the lights on or the heat running in the winter.

A recent survey on low-income Americans found that 28% of respondents were unable to pay their energy bill over a three-month period; among Hispanics that number is nearly 40%. This is unacceptable.

How H.R. 1 would help lower energy prices for Hispanics

To address untenable prices, the Lower Energy Costs Act would eliminate restrictions and roll back taxes that are hobbling energy production.

Further, HR 1 seeks to significantly increase domestic energy production by opening unused federal lands to access key mineral inputs and repealing previous regulatory action that disincentivizes investment in domestic production.

Allowing the industry to continue growing at home means less reliance on foreign nations that could be hostile to U.S. interests. More production means greater competition, less scarcity, and lower prices for all Americans, this is the future that H.R. 1 lays out.

H.R. 1 is especially important for the Hispanic community given the key role it plays in the energy industry

In addition to the obvious benefits all families, particularly Hispanic families, would see from a lower energy bill, growth and investment in the energy sector could mean greater job stability and even potentially higher incomes for a significant portion of Hispanic households.

Our community represents 17% of workers in the energy sector and over 20% in mining, oil, and gas. In areas with a high Hispanic population, like Texas, these number are even higher with Hispanics representing 30% of the oil and natural gas industry.

The Hispanic community is a key part of the energy sector, and it is time government overreach and regulation stopped playing with people’s livelihoods. The Lower Energy Costs Act would ensure legislation such as the Clean Water Act is not improperly used by unelected bureaucrats to halt important energy projects.

For years this legislation has been abusing property rights and cutting project after project in multiple states at the expense of jobs in a dynamic industry where pay is typically 30% more than the median national wage.

The Lower Energy Costs Act offers an opportunity to course correct and improve the state of our nation’s energy sector, while helping families make ends meet. Unleashing this country’s energy potential through the passage of the Lower Energy Costs act will lead to greater financial security, more jobs, and opportunity for the Hispanic community and all Americans nationwide.