Petroplex News

Congressman August Pfluger from Texas's 11th district recently engaged in a conversation with Punchbowl News founder Jake Sherman. The discussion covered the current budget resolution and the role of private capital in the American economy.

Pfluger emphasized the importance of deficit reduction in legislative matters. "Any bill that we get to, has to be deficit-reducing," he said. He expressed a desire to maintain the momentum gained from recent legislative victories and stressed the need to "extend those tax cuts" for future generations.

Discussing the appeal of Texas to private business, Pfluger highlighted the state's pro-business and pro-family environment. He noted that Texas provides a favorable atmosphere for various industries, including semiconductors, oil and gas, and technology startups. "People see that environment and they know...it's a business environment, it's an attitude, it's an ability to raise your family," Pfluger commented.

Pfluger also spoke on the significance of private investment and carried interest in Texas, particularly in the energy sector. He pointed out that private investors have stepped in where banks have withdrawn, largely due to environmental, social, and governance (ESG) concerns. Pfluger advocated for the advantages of private investment, stating, "They could do it quicker. They could do it with less regulations."

The Congressman described carried interest as crucial to the energy sector's dominance, recognizing the need for dialogue with those who have longstanding reservations about the practice. Pfluger expressed optimism about educating his colleagues on the matter, particularly regarding developments in the Permian Basin.

Further details of the conversation can be viewed in the full interview and a Punchbowl News recap.