Lower Energy Costs Act
Floor Speech
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Mr. SOTO. Mr. Chair, our friends across the aisle ran for office in 2022 and took the majority narrowly--by five seats.
It was a hard-fought battle, and many promised to reduce the deficit. Here we are today debating H.R. 1, their first major bill, literally number one, and what have they chosen as their top issue in this Congress?
A $117 billion deficit-busting taxpayer giveaway to polluters; as if oil companies who posted record profits in the billions need more help.
First of all, if we are keeping score here, add up this Big Oil giveaway with the rich tax cheat protection act that passed, and that is a whopping $231 billion that would be added to the deficit by legislation that passed this House already.
I thought the Republican majority was running to reduce the deficit. It looks like the exact opposite is happening.
Also, where is the budget?
President Biden presented his. We still see no budget from the House majority.
Second, to call this bill a little out of step would be an understatement. As a result of climate change, we see in Florida extreme hurricanes, rising seas, and extreme heat.
We have public health issues there: asthma, cancer, and other issues.
We see society moving forward. Major auto manufacturers are going all in on electric vehicles. Utilities are moving away from fossil fuels toward wind, solar, nuclear, green hydrogen, and others. Gas in central Florida is between $3 to $3.25. Inflation has dropped 7 months in a row.
This bill looks like it missed the moment, and now it is just a windfall for Big Oil. When gas was sky-high, Mr. Chair, many colleagues across the aisle criticized Biden for using the Strategic Petroleum Reserve during this disruption to lower gas prices.
This bill wouldn't guarantee lower gas prices; not now, not in the future. It would guarantee more pollution, more sickness, and a step backward.
Third, we passed the Inflation Reduction Act, a very popular law that is transforming us to a clean energy economy before our very eyes.
America is moving forward. Apparently, our colleagues across the aisle are the last to know. They want to repeal the Inflation Reduction Act, including popular provisions. That didn't work well under ObamaCare, and I don't think it is going to work out now.
Lastly, it mandates drilling off of Florida shores. Our top industry is tourism. We need to protect our shores.
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