Don't count on decreasing your dependence on traditional energy sources based on legislation approved in the House of Representatives today.The Democrat controlled House passed H.R. 6 less than an hour ago. This legislation jumps fuel economy requirements from 27.5 miles per gallon to 35 miles per gallon and increases the tax burden on traditional energy companies. Rolling back the previous tax credits is earmarked to investigate alternative energy sources such as wind and solar. The fuel economy requirements, called CAFE requirements, would be phased in over a 12 year period.
Except Senate Republicans and a defiant White House are promising the bill will never become law. Original author Rep. Nick Rahal (D-WV) and 198 co-sponsors ensured the bill, introduced at the beginning of 2007, would easily pass the House.
The bill had not yet been passed when the White House released a statement saying that H.R. 6 "...would raise taxes and increase energy prices for Americans. That is a misguided approach and if it made it to the President's desk, he would veto it."
Despite the promised veto and the threat that Senate Republican leaders might even manage enough votes to keep the bill from going to the White House, the House moved quickly after threatening the legislation all week.
"This showdown over energy happened along party lines," said Consumer Help Web COO George Bounacos. "Things are now politicized to the point that the Bush administration refers to their concept as 'energy security' and the House bill approving the Senate's earlier amendments refers to 'energy alternatives.' While they argue over words and taxes, nothing changes and consumers still face huge price increases at the gas pump since that remains our primary fuel source for personal transportation."
Strong lobbying groups for the automobile manufacturing and energy industries kept the bill stalled almost to the holiday break. With the House's work now down, CNN is quoting Senate Democrats who say they will introduce the legislation as early as 48 hours, even calling back candidates involved in the 2008 Presidential election process.
Oil prices jumped $3 higher today, once again crossing the $90 mark.
Labels: Bush, Congress, energy, gas prices
