Olympia Snowe: “I thank Senator Coleman for offering this amendment because it is critical that the Federal budget prioritizes the…”

“I thank Senator Coleman for offering this amendment because it is critical that the Federal budget prioritizes the energy policy initiatives that are working for our Nation. This amendment would include budget authority for the extension of the tax incentives for energy efficient commercial buildings, which has been estimated that by 2010 will save 7 trillion cubic feet, Tcf, of natural gas. To put this figure in context, the United States imported 4.3 Tcf of natural gas in 2005. Furthermore, we must recognize that investments into commercial and residential buildings provides cost savings for decades. The life of an average American vehicle is roughly 12 years, for commercial buildings the estimated lifetime is 75 years and for residential buildings the lifetime is 100 years. It is vital that we encourage the investment into energy efficiency for these buildings in order to receive the aggregate energy savings. This budget must affirm and reflect upon the fact that energy efficiency is the most cost-effective solution to our energy crisis.”