Kevin Brady: “this bill does do some good things, no question. It does focus on renewable energy, providing incentives for plug-in…”

“this bill does do some good things, no question. It does focus on renewable energy, providing incentives for plug-in hybrid vehicles. It encourages energy-efficient homes and appliances in buildings. All of that is very good. We need to be more green as a country, and we need to have a balanced portfolio. Without question. But this is, I think, an extreme way, in some ways even a vindictive way, to achieve it. In this bill, we create a tax on suburban moms for buying Explorers to take their children around town. We punish American companies for creating jobs here in America. We punish them for creating energy here in the United States. There are 1.8 million jobs related to energy. What this bill does is encourage outsourcing. It actually decreases production in the U.S. of oil and gas and punishes companies for investing in the United States, a tax break that was not singled out for oil and gas. In fact, 73 Democrats on this floor supported the investment in new manufacturing and new investment in the United States. This bill increases dependence on foreign oil; cripples America's fledgling biodiesel industry. It kills a major renewable diesel problem. There is no nuclear, no hydrogen, no new refineries, no transmission lines, no coal-to-liquid, no clean coal technology. But it does have a study on the carbon footprint of the American Tax Code, which surely ranks just below suing OPEC as an effective way to lower prices.”