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| 316 Hart Senate |
| Office Building |
| Washington, D.C. 20510 |
| P: 202-224-4343 |
| F: 202-228-1373 |
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| July 29th, 2005 |
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COMPREHENSIVE ENERGY PACKAGE SAILS THROUGH CONGRESS
Includes Bunning’s Provisions To Help Coal Companies In Kentucky |
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Washington, DC - U.S. Senator Jim Bunning today supported the Conference Report to the Energy Bill which passed the Senate by a vote of 74-26. The comprehensive energy package includes provisions Senator Bunning authored to encourage investment in clean coal technology. It is estimated that 70,000 jobs will be created nationwide by the clean coal provisions. The Energy Bill, which passed the House yesterday, now goes to President Bush for his signature.
“This is a giant step forward in our effort to provide Americans with cleaner, more affordable, reliable sources of energy,” said Bunning. “As oil prices remain high, this bill will help ensure that America has a solid energy plan for the 21st century. This legislation is good for Kentucky -- both for creating jobs and promoting a cleaner environment -- and for our national security.
“The comprehensive energy bill will provide nearly $1.8 billion for the Department of Energy to carry out clean coal initiatives; nearly $1.1 billion for research and development to accelerate development of advanced clean coal technologies; and $2.7 billion in tax credits to encourage the use of coal and deployment of clean coal technologies and $3 billion for a DOE program to help coal companies comply with emission regulations. These provisions are critical for creating Kentucky jobs and protecting our environment.
“Clean coal is important to increasing our domestic energy production in an environmentally sensitive way. And the bill we passed today encourages the use of clean coal technology by offering incentives to companies that invest in clean coal or use clean coal to power their facilities.
“In diversifying our energy usage Kentucky’s farmers will play an integral part. The energy bill includes tax credits to encourage the use of ethanol and biodiesel fuels from agricultural products such as corn and soybeans. We have a lot of farm land here in Kentucky, and our farmers will reap the rewards of this very important provision.
“The bill also provides federal loan guarantees to encourage the design and development of innovative technology aimed at increasing energy supply while protecting the environment.
“The American people have waited far too long for a comprehensive energy package. Finally Congress has passed a good energy bill that will not only help with our energy needs here at home but also strengthen our national security. This bill will better utilize our domestic sources of energy and reduce our reliance on foreign sources of energy,” Bunning concluded.
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