“There is no reason for the federal government to get in the way of fracking,” Cruz said.
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The United States is in the midst of an “energy renaissance” that can be harnessed to help pay down the $17 trillion national debt, says Texas Republican Sen. Ted Cruz.
Cruz spoke at the conservative Heritage Foundation on Monday to outline his plan to boost jobs and the economy through expanded energy production. Cruz’s American Energy Renaissance Act aims to boost U.S. energy production by cutting down on government regulation, opening up federal lands for oil and natural gas operations and boosting energy exports. The bill also dedicates additional revenues raised from increased energy production to paying down the national debt.
“What we’re doing to our kids and grandkids is wrong,” Cruz said at an event hosted by Heritage Action, the Heritage Foundation’s political arm. He added that tying such revenues to paying down the national debt would increase the “political price” for Congress to use the funds for pet projects.