Press Conference with Sen. Cantwell (D-WA; Sen. Cornyn (R-TX); Sen. Craig (R-ID); Sen. Domenici (R-NM); Sen. Ensign (R-NV); Sen. Klobuchar (D-MN); Sen. Schumer (D-NY); and Sen. Sununu (R-NH), Subject: The Clean Energy Tax Stimulus Act of 2008

Statement

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SEN. SUNUNU: Well, this to me is common sense, to extend and expand these renewable tax credits.

It's good policy, because these are technologies that exist, as Senator Klobuchar described. They're technologies that are clean. They're technologies that do reduce our reliance on foreign energy imports. We need to expand these tax credits, extend these tax credits so that we continue the process of innovation and investment.

Now, in New Hampshire, the sun doesn't shine as much as it does in the southern part of the country. We don't have the wind resources that the West or the Western Plains might have. But we do have a great history of sustainable forestry. And I want to thank Senator Cantwell and Senator Ensign for making sure that renewable credits for biomass and wood systems is part of the mix.

Renewables come in all shapes and forms. We want to make sure we extend the renewable tax credits to all forms of renewables. And making sure that our forestry industry is regarded in this legislation means that in New Hampshire, we'll continue to invest in a way that meets our renewable commitments and renewable goals. And we'll continue to have investment that continues to support job creation and economic opportunity in the forestry industry and those parts of our state that have a great tradition of investment in opportunity in forestry.

So I want to thank the sponsors. I'm a new member of the Finance Committee, but I know that John and Maria have worked very hard in putting this package together that absolutely can get passed, both chambers, can be signed into law this year.

SEN. CANTWELL: John?

SEN. CORNYN: Well, I'm proud to be a cosponsor of this clean energy bill and I congratulate Senator Cantwell and Senator Ensign for their strong leadership. And I think this demonstrates our shared commitment to energy diversity.

We need to -- when people ask me: What do we need more of? I say: We need all of the above, frankly, in order to reduce our dependence on imported energy from dangerous places in the world, some of whom are our declared enemies. While I don't believe we'll ever -- at least in the near term -- eliminate the need for more oil and gas, we know that both the environmental issues, the national security issues and the economic issues require that we find clean sources of renewable energy, and that's what this bill does.

And it creates a -- it allows companies to have a business model to actually make an investment, get the financing necessary in a reliable way that will assure that renewable energy remains an important part of our energy portfolio into the foreseeable future. So thanks for the great work that you all have done and I'm proud to be here with you.

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