My Life, by Bill Clinton: on Energy & Oil


Al Gore: 1993: Hard line on deficit reduction, paid for by BTU tax

Al Gore's suggestion of a broad-based energy tax, called a BTU tax, on the heat content of energy at the wholesale level. Al said that while the BTU tax would be controversial in states that produced coal, oil and natural gas, it would fall on all sectors of the economy, lessening the burden on ordinary consumers, and would promote energy conservation, something we badly needed more of.

For several house more, we again debated how much deficit reduction we had to try for, beginning five years out and working back to the present. Gore took a hard line, saying if we went for the biggest possible reduction, we'd get credit for courage and create a new reality, making it possible to do previously unthinkable things, like requiring Social Security beneficiaries above a certain income level to pay income tax on their benefits.

Source: My Life, by Bill Clinton, p.461-462 Jun 21, 2004

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