|Bipartisan Energy Working Group Unveils Plan for Job Creation, Energy Independence|
Comprehensive bill meets future energy needs, invests in America’s future
Washington, D.C. – As the U.S. continues to send $1 billion per day overseas to import 60% of its oil and struggling families are forced to pay more at the pump, Americans are demanding their representatives put politics aside and get serious about finding real solutions to our energy problems. Today the bipartisan House Energy Working Group unveiled a comprehensive solution to secure our energy future, put Americans back to work and rebuild our infrastructure without raising taxes or increasing the national debt.
The Infrastructure Jobs and Energy Independence Act harnesses America’s vast natural resources by allowing the safe, responsible expansion of offshore oil and gas exploration. The legislation dedicates the $2.2 to $3.7 trillion in new federal revenues from offshore energy production to create jobs, cut the deficit, invest in clean coal and nuclear technology, clean up our environment, increase renewable and alternative energy sources, and rebuild our crumbling highways and bridges. The only bipartisan plan introduced in the House, it will create 1.2 million new jobs annually and $8 trillion in economic output without raising taxes.
U.S. offshore resources are enough to replace oil imports from Venezuela and Saudi Arabia for the next 80 years and enough clean natural gas to fuel American industry for the next 63 years, yet remain largely untapped due to the Administration’s effective moratorium on expanded exploration. Meanwhile, unemployment remains at 9% and our national infrastructure needs an estimated $2.2 trillion for repair. The Infrastructure Jobs and Energy Independence Act uses American resources to create American jobs and take back our energy destiny from potentially hostile overseas governments.
Since its formation in March, the bipartisan Energy Working Group, led by Congressmen Tim Murphy (PA-18), Tim Walz (MN-01), Bill Shuster (PA-09) and Jim Costa (CA-20), has focused on achieving goals set by the President to reduce oil imports by one-third over the next ten years. The group realizes that any energy plan must contain both short and long term solutions to provide relief from high oil prices and make direct investments in energy independence, infrastructure and job creation. Towards that end the group has been meeting privately, without the influence of lobbyists or interest groups, to form a common-sense national energy strategy that meets future energy needs while ending our addiction to foreign oil.
“Each dollar we spend on overseas oil is money we can’t use to create American jobs,” said Murphy. “There’s no reason to keep lining the pockets of foreign governments when we can use our own resources to meet our energy needs and invest in our future, especially when we can do it all without raising taxes. I am extremely proud of this bipartisan plan and look forward to working with Leadership to get this critical legislation passed.”
“This legislation is proof we can put our partisan differences aside and work together to find common-sense solutions,” said Walz. “Continuing to send our money to countries overseas that hate us just doesn’t make any sense. They will hate us for free. Speeding up America’s transition to an energy independent future and investing in our infrastructure is critical for our economic competitiveness and our national security. With entrepreneurship and an American can-do spirit, we can create good-paying jobs right here at home.”
“We have massive natural resources that can be harnessed by American industry to create jobs and build a bridge to a new energy economy,” Shuster said. “It’s foolish to squander our domestic reserves in favor of continued reliance on foreign sources of energy. This legislation will break our addiction to foreign oil and empower us to invest in improving our crumbling national transportation infrastructure.”
Costa said, “With gas prices skyrocketing and turmoil in the Middle East, it is clear we can no longer afford to keep pumping our dollars to unstable regions of the world. We’ve got to develop our energy right here in America using every tool in our energy toolbox. This bipartisan legislation will reduce our dependence on foreign oil, develop American energy, repair our infrastructure, and create hundreds of thousands of good jobs in our communities – all without raising taxes.”
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