Gillibrand Announces Support of Historic American Energy Legislation

Press Release

Local Congresswoman Kirsten Gillibrand announced that later today she will vote to help pass an historic energy package, H.R. 6988, the Comprehensive American Energy Security & Consumer Protection Act. The legislation will increase our American energy supply, while reversing the tax giveaways to the big oil and gas companies as well as increasing investment in the clean, renewable energy sources that will end our dependence on foreign oil, create jobs, stop the stranglehold of oil and gas companies on American energy policies and combat global climate change. The legislation demonstrates a commitment to the American consumer while changing the direction of America's energy policy away from giveaways to the oil and gas companies to support the American taxpayer.

"This bipartisan legislation addresses our energy crisis with a comprehensive approach," said Congresswoman Kirsten Gillibrand, a Member of the House Armed Services Committee. "Energy issues are central to our economic development, national security, and our ability to combat global climate change."

H.R. 6988 will allow for offshore energy exploration for much of the east and west coasts from 100 miles offshore or more. States may choose to opt-in for energy exploration from 50-100 miles from shore. Drilling 50 miles from shore and under would be prohibited. This would potentially open up to 80% of the offshore areas currently off-limit to drilling - hundreds of millions of acres of new lands for exploration.

The legislation would also include a roll back of the enormous tax subsidies that the oil and gas companies have enjoyed over the past. Those more than $14 billion dollars in funds would be invested in the development of clean, renewable alternatives that will create jobs and grow the economy of Upstate New York.

The Congresswoman continued, "This legislation demonstrates the steps necessary to making America energy independent. The oil and gas companies are experiencing record profits, while Upstate families are struggling just to make ends meet. This bill will invest in the technologies that will reduce energy costs, create American jobs that can't be outsourced to China or Mexico, and revitalize our agricultural and manufacturing bases."

The legislation would also invest more than $6.4 billion dollars over the next 10 years for assistance programs like the Low-Income Home Energy Assistance Program (LIHEAP), weatherization assistance, and other critical programs that support our seniors and low-income families.

Congresswoman Gillibrand recently hosted her second Regional Economic Summit; this time concentrating on energy and development. Expert panelists, business and community leaders agreed that it is critical for the federal government to support the private sector through the extension of the critical production and investment tax credits that develop the new energy sector. The Comprehensive American Energy Security & Consumer Protection Act extends the Investment Tax Credit for solar and fuel cell technologies for 8 years, the Production Tax Credit for biomass, hydroelectric and geothermal for 3 years, and the Production Tax Credit for wind energy for an additional year.

These investments have a huge impact on the local economy. A recent study by the Renewable Energy Policy Project said that New York has the potential for an additional 50,000 "green-collar" jobs from the manufacturing related to these new technologies. Those numbers will continue to expand with continued investment and leadership both in Washington and the in the private sector.

The legislation is expected to pass tonight and move to the Senate, where Senators are currently debating their own version of the energy legislation.

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