And producing American energy creates American jobs. In South Texas, the increased use of hydraulic fracturing (fracking) to access oil and natural gas in the Eagle Ford Shale formation has created thousands of well-paid jobs.
According to data from the Department of Commerce’s Bureau of Economic Analysis, average per-capita incomes in counties with Eagle Ford Shale wells jumped more than 13 percent from 2008 to 2011. Across the United States, income fell.
As our country continues to face a fiscal crisis, it is clear that Congress needs to cut spending and prioritize the investments that will provide a good return for American taxpayers. STEM education initiatives, space exploration and investments in basic research are the long-term investments that will provide economic growth and help us ensure America’s future prosperity and success.
Rep. Lamar Smith, R-Texas, serves as chairman of the House Science, Space, and Technology Committee.
Leaders from military and veterans service organizations joined Sens. Roger Wicker, R-Miss., Kelly Ayotte , R-N.H., and Lindsey Graham, R-S.C., at a press conference to urge the Senate to replace a provision in the budget proposal that cuts retirement benefits for veterans. Wicker, Ayotee, and Graham earlier called for a bipartisan solution to replace the $6.3 billion in cuts to military retiree benefits.
Each year since 1990, CQ Roll Call has reviewed the financial disclosures of all 541 senators, representatives and delegates to determine the 50 richest members of Congress. This year's report, derived from forms covering the calendar year 2012, shows it took a net worth of $6.67 million to crack the exclusive club.