Republican News

Apr 02 2003

FINANCE COMMITTEE FAVORABLY REPORTED ENERGY TAX INCENTIVES ACT COSPONSORED BY DOMENICI

TAX PACKAGE WILL BE MERGED WITH DOMENICI ENERGY BILL ON FLOOR

Washington, D.C. – Senate Energy Chairman Pete Domenici noted the successful mark-up today of The Energy Tax Incentives Act of 2003, a bipartisan energy tax packaged he sponsored with Senators Grassley, Bingaman and Baucus. Domenici today outlined plans to incorporate the tax incentives package with his comprehensive energy package for floor consideration later this spring. Domenici’s statement: “The Energy Committee will begin mark-up next week on comprehensive energy legislation. I expect to report that bill out of committee on May 1. The tax incentives package marked up by the Finance Committee today will be added as an amendment to the comprehensive energy bill and considered by the full Senate later this spring. “I strongly support the subsidies in this tax package. They are essential to ensure a diverse energy portfolio for the nation. This tax package, coupled with the comprehensive bill I will report out of committee, will help sustain a supply of clean, affordable and abundant energy for all Americans.” Domenici and his colleagues filed the Energy Tax Incentives Act of 2003 last month. It includes a series of subsidies encouraging alternative and traditional energy production and conservation and energy efficiency. The bill, S. 597, is substantially similar to the energy tax incentives bill passed by the Senate last Congress. ###