Today, U.S. Rep Ed Perlmutter (CO-07) voted with a bipartisan majority of the House to pass H.R. 6, the Energy Independence and Security Act, by a vote of 235 to 181.
“This important legislation places on the path to energy independence and helps make us the world leader in renewable energy. This bill is a landmark achievement because it increases fuel economy standards for our vehicles, commits to biofuels, creates incentives for hybrid technology and repeals tax subsidies for big oil.
“I am particularly proud of the Renewable Portfolio Standard requiring utility companies to generate 15 percent of electricity from renewable sources. Congress must lead by example, and this vote today is proof of that leadership. I strongly urge the Senate to pass this bill and the President to sign it into law because promoting renewable energy and energy efficiency is good for national security, good for the climate and good for jobs,” stated Perlmutter.
Some key provisions of H.R. 6 are listed below:
Increases fuel economy standard to 35 mile per gallon by 2020 for new cars and trucks. This is the first increase by Congress since 1975.
Provides Important Tax Breaks including
Long-term extensions of tax credits for renewable electricity
Tax credits for production of biofuels, including cellulosic ethanol
Extensions of energy efficiency tax incentives
Requires utility companies to generate 15 percent of electricity from renewable sources such as wind, biomass, wave, tidal, geothermal and solar by 2020. It also permits utilities to meet up to 4 percent of their target through energy efficiency.
Repeals approximately $21 Billion in tax subsidies for Big Oil.
Creates an Energy Efficiency and Renewable Energy Worker Training Program to train a quality workforce for “green” collar jobs. It is estimated that major investments in renewable energy could create three million green jobs over 10 years.
Takes aggressive steps on carbon capture and sequestration to come up with a cleaner way to use coal and authorizes a nationwide assessment of geological formations capable of sequestering carbon dioxide underground.
