Steve Pearce: “Mr. Speaker, there are three titles in this bill. First deals with ways and means problems, those problems that have to…”

“Mr. Speaker, there are three titles in this bill. First deals with ways and means problems, those problems that have to do with taxes. We can have legitimate discussions on whether to tax or not tax corporations. The third title deals with the renewable resources. Being from New Mexico, I think we should be exploring and investing in renewable resources. New Mexico is one of the few States that would be self-sufficient in wind and solar. We are making heavy investments in nuclear energy and in biomass, hydrogen, and geothermal. I am very committed to the section that the Democrats have on title III. The one I have deep reserves about is title II. In that title, page 10 says a lessee shall not be eligible to obtain the economic benefit of any covered lease, or any other lease. Mr. Speaker, what is occurring here is the piece that is referred to in yesterday's Washington Post editorial where the Democrats are described as being heavy handed. The stability of contracts that would be recognized and welcomed in Russia and Bolivia, I do not think that our friends on the other side of the aisle intended to do this. Therefore, I recommend that we kindly send this back to committee and we could take out these offenses. Mr. Speaker, the quality of a nation and its government depends on the full faith and credit of that government. This government depends on making promises that are not written to its seniors, to its veterans.…”