OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Energy Subsidies

Floor Speech

Date: Feb. 2, 2016
Location: Washington, DC
Issues: Energy

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Mr. SCHATZ. Mr. President, I call up amendment No. 3176 and ask that it be reported by number.

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Mr. SCHATZ. Mr. President, this amendment is based on a very simple idea: that there should be a level playing field for fossil fuels and for clean energy. Right now we have subsidies on both the fossil fuel side and on the clean energy side through our Tax Code. Periodically, we need to recalibrate our energy policy based on market conditions, fiscal circumstances, and what is happening in the world.

Again, here is the idea: We should make sure to reevaluate tax preferences for fossil fuels and clean energy at the same time. If we are serious about creating a level playing field, we should phase out incentives for fossil fuels as we phased them out for wind and solar power. Majorities of both Democrats and Republicans support the repeal of these tax preferences, and so I hope my colleagues will join me in a big bipartisan vote for putting our clean sources of energy on equal footing with their fossil fuel counterparts.
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