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Lower Energy Costs Act Benefits Main Street

March 30, 2023

Lower Energy Costs Act Benefits Main Street

WASHINGTON, D.C. (March 30, 2023) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, supports H.R. 1, the Lower Energy Costs Act. NFIB announced H.R. 1 will be a Key Vote for the 118^th Congress. “Small businesses continue to face various economic headwinds, including increased energy costs,” said Kevin Kuhlman, NFIB Vice President of Federal Government Relations. “This legislation will help small businesses nationwide by increasing energy production and streamlining the permitting process for energy-related projects. We applaud the U.S. House for passing this legislation and providing small businesses with much-needed relief.” According to NFIB’s research, 79% of small employers reported that rising fuel prices (gasoline, diesel, fuel oil, etc.) are a substantial contributor to higher costs. Nearly all (96%) of small employers reported higher gas and fuel prices have some degree of a negative impact on their business. In an NFIB member ballot, more than 88% of small business owners support streamlining regulations to facilitate the production and transport of oil, natural gas, and other energy sources in the United States.

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