Statements On Introduced Bills And Joint Resolutions
Floor Speech
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By Mr. MERKLEY (for himself, Mr. PRYOR, Mr. BROWN of Ohio, Ms. STABENOW, Mr. SANDERS, and Mr. CARDIN):
S. 3079. A bill to assist in the creation of new jobs by providing financial incentives for owners of commercial buildings and multifamily residential buildings to retrofit their buildings with energy efficient building equipment and materials and for other purposes; to the Committee on Energy and Natural Resources.
Mr. MERKLEY. Mr. President, I rise today to introduce legislation to help create jobs and lower energy bills for businesses and multi-family residences. This bill would create a program called Building Star, designed to promote energy-saving commercial building renovations through rebates and low-cost financing options.
I believe, as do many of my colleagues, that energy efficiency should be a central component of our national energy policy because energy efficiency creates jobs, reduces our dependence on foreign oil, and reduces the pollution of our air and water. Central to the program we are proposing today is its ability to help businesses afford the up-front costs of energy-efficient renovations by helping state and local programs offer low-interest loans that can be paid back through savings on energy bills.
As we take action to put Americans back to work, we need to set our sights on programs that provide the biggest bang for our buck in terms of immediate job creation and set our economy up for future growth. Clean energy is not only the next great growth industry, but it's an engine for job creation today. Energy-efficiency programs like Building Star will put Americans to work in construction and manufacturing and save small businesses money as we strive for American energy independence.
I would like to thank Senator PRYOR for his leadership on this bill as well as Senators STABENOW, BROWN, and SANDERS in joining the push for a common-sense idea that can create jobs right away and pave the way for future growth in America's clean energy industry.
I would also like to recognize Senator WARNER's great leadership in developing Home Star, a parallel program that offers energy-efficiency assistance to homeowners. I am proud to stand with my forward-thinking colleagues, Senator BINGAMAN and Senator SANDERS in supporting Home Star and I look forward to continued discussions about how we can maximize the economic benefits of these valuable programs.
I would like to focus for a moment on the immediate positive impact that Building Star will have on our economy.
Building Star would begin creating jobs immediately and is projected to create as many as 150,000 jobs in some of the economy's hardest-hit sectors including construction, manufacturing, and distribution over the next 2 years.
Building Star will stimulate new jobs in the 55,000 construction and manufacturing firms that deal in building, mechanical and low-slope roof insulation, windows, and window films. Eighty-six percent of these firms are small businesses employing less than 20 people.
Building Star will maximize Federal investment by leveraging $2 to $3 in private investment for every Federal dollar spent, making it an excellent model for a public-private partnership and maximizing resource efficacy.
In addition, Building Star is expected to save building owners more than $3 billion annually on their energy bills by reducing enough peak electricity demand to avoid the need for 33 300-Megawatt power plants.
It will also reduce the pollution that contributes to climate change by 21 million metric tons each year, or the equivalent of nearly 4 million cars' emissions, according to the American Council for an Energy-Efficient Economy.
I urge my colleagues to recognize the outstanding opportunity that energy-efficiency renovations offer in putting Americans back to work, saving money for our working families, and moving us toward energy independence.
Mr. President, I ask unanimous consent that the text of the bill be printed in the RECORD.
There being no objection, the text of the bill was ordered to be printed in the Record
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