Political Quotes

“We have a simple amendment that will help restore two principles to our budget: one is innovation, and two is balance. What our amendment would do would be add $20 million to the ARPA-E account. It would be fully paid for with a balance taken out of the fossil fuel research account, and this is important for two fundamental reasons. Our Nation's economic performance will live or it will die on the ability to innovate a new clean energy technology; and today, tonight, when we're speaking, the Chinese are investing $786 billion in the development of new clean energy technologies. Yet, what does this CR do to our advanced clean energy research budget? It cuts it by 85 percent. While the Chinese are racing ahead on clean energy, we're running backwards 85 percent in ARPA-E, which has tremendous potential in solar energy, in efficient, enhanced geothermal and new efficiencies in electric storage, in high-capacity grid systems. This is our seed corn of innovation, and yet we have slashed it 85 percent in this CR. We are simply asking to reduce that cut to about 65 percent and add $20 million. Now, let me put this in context. That is the innovation part of this agenda; and for those who are critical of ARPA-E, let me suggest, in the first year of this operation, in the first year, it has attracted six private equity investments for $23 million of Uncle Sam's investment of $100 million that has been leveraged for private equity investment.…”