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For Immediate Release
August 4, 2007 |
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LEVIN STATEMENT IN SUPPORT OF THE RENEWABLE ENERGY AND ENERGY CONSERVATION TAX ACT OF 2007 |
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(Washington D.C.)- U.S. Rep. Sander Levin (D-Royal Oak) made the following floor statement in support of H.R. 2776, the Renewable Energy and Energy Conservation Tax Act. The legislation was subsequently combined with H.R. 3221, the New Direction for Energy Independence, National Security, and Consumer Protection Act.
I rise in strong support of the Renewable Energy and Energy Conservation Tax Act.
This legislation provides a balanced, responsible and long-term approach to addressing the critical issue of energy security in this country. It provides long-term incentives for renewable energy that will give the solar, wind, biomass industries the stability they need to increase production capacity. There are also significant incentives for making our nation and economy more energy efficient.
The bill provides resources to states and localities to help their residents improve the efficiency of their homes, as well as make public investments in energy-efficiency, transportation and research.
The bill works across sectors and technologies, across governmental and private sector lines, and in both residential and commercial settings to reduce our nation’s dependence on fossil fuels. In a word, Mr. Chairman, the approach taken by this bill is comprehensive. I want to highlight two provisions in the bill that I think are particularly important.
First, this legislation will increase the tax credit for alternative refueling property from 30 percent to 50 percent, and extend the credit through 2010. Nearly everyone agrees that biofuels such as E85 are an increasingly important component of our nation’s evolving energy strategy. Real progress has been made in recent years to spur use of alternative transportation fuels, and U.S. automakers have made significant investments to bring flex-fuel vehicles to market. But we need to speed the deployment of E85 pumps. This bill does just that.
Next, this legislation provides incentives for manufacturers to produce washing machines, refrigerators and dishwashers that push the boundaries of energy and water efficiency, and to build them in the United States. Reducing the energy or water usage of a washing machine may seem like a small thing, but over time and across millions of households, these incentives will produce remarkable reductions in energy and water usage, and consumer will save money on their utility bills.
Finally, I think it is unfortunate that so many of my colleagues on the other side of the aisle are opposing this package because it takes back just a few of the most outrageous tax breaks for the oil and gas industry. Our work in this House is about priorities, and the difference in priorities on this bill could not be more clear. I urge all of my colleagues to support this responsible legislation.
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