New Direction for Energy Independence, National Security, and Consumer Protection Act
Floor Speech
NEW DIRECTION FOR ENERGY INDEPENDENCE, NATIONAL SECURITY, AND CONSUMER PROTECTION ACT -- (House of Representatives - August 04, 2007)
BREAK IN TRANSCRIPT
Ms. VELÁZQUEZ. I yield myself such time as I may consume.
Mr. Chairman, I rise today in support of H.R. 3221. I am proud to sponsor this legislation as it moves this country closer toward energy independence amidst the needs of this Nation's entrepreneurs.
Small businesses are dramatically impacted by rising energy costs. According to a recent study conducted by the National Small Business Association, 93 percent of small business owners anticipate negative consequences to their businesses because of higher energy prices.
This bill includes numerous measures to help small businesses cope with these challenges. Many of these provisions offered by Mr. Shuler of our committee were designed to address the entrepreneurs' role not only as consumers but also as suppliers of energy.
It contains key initiatives to increase energy efficiency. With enhanced loan guarantees and lower fees on Small Business Administration loans, more small businesses will be able to purchase energy efficient technology.
The bill also requires the SBA to develop a national strategy for educating small firms about energy efficiency.
H.R. 3221 will encourage the creation of new energy efficient technologies and increase production of renewable fuels. Small businesses are the primary leaders in renewable fuels sectors, already making up more than 75 percent of biofuel producers. It creates private equity investment companies specifically for the purpose of funding renewable fuel production.
This legislation is the giant step forward in increasing the supply of energy while also creating smart usage. By voting for this bill, we can reduce energy usage and greenhouse gas emissions, all while making sure our economy is moving in the right direction.
I commend the leadership on this important bill, and I urge its immediate passage.
I reserve the balance of my time.
BREAK IN TRANSCRIPT
Source