Washington, D.C. - Rep. Peter Welch (VT-AL) issued the following statement in support of H.R. 6899, The Comprehensive American Energy Security and Consumer Protection Act, under consideration on the House floor today. Among its provisions, the act will roll back big oil tax breaks and require oil companies to pay royalties already owed to taxpayers; extend and expand tax incentives for wind and solar; provide a limited expansion of domestic drilling; help fund the Low Income Home Energy Assistance Program (LIHEAP); and release oil from the Strategic Petroleum Reserve (SPR) to bring down gas prices:

"Vermonters and Americans are hurting. And they are demanding action. The price of fuel is forcing hard choices among too many families in Vermont and across the country. Congress needs to take immediate action to provide consumers relief and we need a long term energy plan that transitions from oil to renewable energy sources. This is a balanced bill that, while not perfect, achieves both objectives. We cannot drill our way out of this crisis. This bill puts on as a path to a renewable, efficient, and affordable energy future."

The bill includes royalty reform, an initiative Welch first called for in 2006 while President Pro Tem of the Vermont Senate.