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| October 11, 2006 | Shauna Riley
202.225.3515
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Washington, DC – On the heels of House passage of her alternative energy research and development bill (H.R. 6203), U.S. Rep. Judy Biggert (R-IL-13th) introduced legislation to repeal tax credits for oil and gas production, and to redirect the funds to consumers and businesses that switch to alternative fuel vehicles.
“Oil and gas producers do not need more incentives to drill – especially not when oil reaches $60 or $70 a barrel,” said Biggert, Chairman of the House Science Subcommittee on Energy. “Let’s put that money to much better use by redirecting it to consumers who purchase plug-in hybrids and alternative fuel vehicles.”
H.R. 6269, the Oil and Gas-to-Alternatives Swap Act (OGAS), repeals oil and gas production tax credits contained in the Energy Policy Act of 2005 (EPACT), signed into law in August 2005.
The Biggert bill also:
· Repeals EPACT’s 60,000-vehicle limitation on the number of hybrid and advanced lean-burn technology vehicles eligible for consumer tax credits.
· Doubles the alternative fuel vehicle refueling property tax credit from 30 percent to 60 percent, and extends the tax credit to 2012 to encourage refueling stations to install infrastructure for E-85, natural gas, hydrogen, biodesel and other alternative fuels.
· Extends the expiration of the hybrid vehicle tax credit from December 31, 2009 to December 31, 2012, and the expiration of advanced lean-burn technology and alternative fuel vehicles tax credits from December 31, 2010 to December 31, 2012.
H.R. 6269 was introduced on September 29, 2006 and referred to the House Ways and Means Committee. H.R. 6203, the Alternative Energy Research and Development Act, passed the House on September 29, 2006 by voice vote. The Act promotes the development of biofuels, solar, wind, plug-in hybrids, hydrogen and other technologies to end U.S. dependence on foreign sources of energy. H.R. 6203 is currently awaiting consideration by the U.S. Senate.
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