Relating To Consideration of H.R. 6111, Tax Relief And Health Care Act of 2006
RELATING TO CONSIDERATION OF H.R. 6111, TAX RELIEF AND HEALTH CARE ACT OF 2006 -- (House of Representatives - December 08, 2006)
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Mr. MARKEY. Mr. Speaker, the gentleman from Massachusetts has already pointed out to the gentleman from Georgia that we in Massachusetts and all the rest of the States that aren't involved in this raid on the Federal treasury, are interested in putting together a real comprehensive energy policy for our country. But we have been excluded from this debate, over the 6 years of the Bush/Cheney secret energy task force, of any considerations for environmental consumer conservation-related issues. And this final bill, which comes out here on the floor, is the exclamation point on the Bush Republican energy policy.
In this bill, believe it or not, and it is staggering, we are going to allow, as the gentleman from Florida just pointed out, massive new drilling for oil and gas on Federal lands. Now, the States of Texas, Louisiana, Alabama and Mississippi will derive $170 billion. That is right; $170 billion worth of revenues from this drilling.
Now, the risk runs to Florida. We have a huge Federal deficit, which we are constantly lectured about from the White House and from the Republican side. But this will drain another $170 billion. The other 46 States in the Union, if they vote for this bill, they deserve to be lectured to on deficit reduction. But if you come from one of these four States, this is the proudest moment you will ever have in your tenure here in the House of Representatives. If you can convince 46 States to give you $170 billion as part of this Outer Continental Shelf drilling, you will never have an achievement bigger than this. If you are one of the other 46 States, you should hang your head in shame.
And, by the way, this Congress has already appropriated $80 billion to help the States which have been affected by Hurricane Katrina.
We will vote for more, if necessary, to help the States affected by Hurricane Katrina, $80 billion already. But don't come to us and tell us that we should shift the whole formula for who receives benefits from drilling on Federal lands and give it over to four States.
Now, to the credit of the Rules Committee, and I thank the gentleman from Massachusetts and the other Democratic Members of the Rules Committee, and I also thank the leadership from the Republican side, they have actually put in order, as part of this bill, an amendment which will be voted upon here out on the House floor.
That amendment is one that has already passed the House back in May. It passed overwhelmingly: 252 of us voted for it. That amendment calls for the renegotiation of the leases that were let back in the 1990s that actually, believe it or not, do not require royalties to be paid for by ExxonMobil or other oil and gas companies. When the price of a barrel of oil goes to $50, $60, $70 a barrel, they don't even have to pay royalties to the American people for drilling on public lands. It is all windfall profits.
The amendment which we will have out here to vote upon later today will require a renegotiation of all of those contracts so that the Federal taxpayer gets the benefit of the royalties and drilling on public lands when they go above $30 and $40 and $50 and $60 and $70 a barrel, and they at least will reclaim $10 or $20 billion worth of revenues that are strictly going into the pockets of the oil and gas companies right now.
Right now, those oil and gas companies are tipping the American taxpayer upside down, shaking money out of their pockets, and putting it into the pockets of their own shareholders. That money should be used to reduce the Federal deficit, to pay for Medicare, for Medicaid, for educational programs.
I thank the Rules Committee for putting that amendment in order. I urge the Members of Congress to support that amendment.
By the way, one other bonus benefit to the Members out here, that amendment also gives a 1-year extension on relief from the alternate minimum tax. It is a good amendment. I thank the gentleman for making that possible.
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