On the recordMay 5, 2011
The nonpartisan Joint Committee on Taxation, in its analysis of the administration's budget, stated that the repeal of oil and gas preferences are ``likely to have no effect on the world price of fossil fuels, and any increase in prices for domestically consumed fossil fuels are likely to be attenuated.'' Again, when we talk about ending the giveaway to Big Oil and Gas, it will have no effect with regard to actual energy prices. Mr. Speaker, I am proud to yield 1 minute to the gentlewoman from California, the Democratic leader, Ms. Pelosi.
