Frank Pallone: “I just wanted to mention, if I could, that the Democrats' energy policy paper was released today, wherein our leader…”

“I just wanted to mention, if I could, that the Democrats' energy policy paper was released today, wherein our leader, the gentleman from Missouri (Mr. Gephardt), and the gentleman from Texas (Mr. Frost), who is the chairman of the caucus and also the chairman of the task force that put this together, talked about two major tax credits along the lines of what the gentleman just discussed; and I wanted to mention them briefly, if I could. There is this best energy savings tax credit, which is basically a consumer tax credit for up to $4,000 provided for new homes, in other words, a $4,000 credit for purchase of a new home based on the energy efficiency of the new home. And then similarly with regard to home improvements, 20 percent of the cost up to $2,000 based on the measures taken by the consumer. And there is a separate one for vehicles that an individual could get a credit up to $4,000 based on fuel savings or other performance standards when they purchase a car or a light truck or SUV equipped with these new fuel saving technologies.”