[Congressional Record Volume 149, Number 41 (Thursday, March 13, 2003)]
[Extensions of Remarks]
[Page E470]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    INTRODUCTION OF EFFICIENT ENERGY THROUGH CERTIFIED TECHNOLOGIES 
                          (EFFECT) ACT OF 2003

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                         HON. EDWARD J. MARKEY

                            of massachusetts

                    in the house of representatives

                        Thursday, March 13, 2003

  Mr. MARKEY. Mr. Speaker, today I am pleased to join Reps. Cunningham, 
Crane and Matsui in introducing the Efficient Energy through Certified 
Technologies (EFFECT) Act of 2003. This bill provides tax incentives to 
make both new and existing buildings more energy efficient. These 
incentives are workable, verifiable and will promote market 
transformation, stimulating the market for energy efficient technology 
and services.
  Building construction and operation represents 15 percent of Gross 
National Product and buildings consume 35 percent of the Nation's 
primary energy budget--almost twice as much as cars. This bill would 
stimulate the economy while decreasing energy consumption. It would 
improve our national energy security by reducing vulnerability to 
transmission disruptions and cutting our oil and gas import dependence.
  The tax incentives are based totally on energy performance, achieving 
two critical goals: It assures that projected energy savings will be 
achieved; and it encourages vigorous competition and innovation in the 
marketplace, reducing the cost of energy efficiency.
  Within 10 years, the EFFECT Act could produce power savings of 110 
gigawatts--the equivalent of 275 400 megawatt power plants. The cost 
savings could be over $30 billion annually. Right now the effect would 
stimulate the use of existing, off-the-shelf technology that can cost-
effectively reduce energy use by 50 percent for existing buildings. 
This would result in nearly a 6 percent reduction in air pollution 
emissions over the next 10 years--equivalent to taking 40 percent of 
our automobiles off the road--and save American homeowners billions of 
dollars each year in energy costs.
  This bill is supported by a coalition of environmentalists and 
industries, and as shown by the latest Gallup Poll, the American 
people. In that poll, 60 percent agreed that the United States should 
emphasize greater conservation by consumers of existing energy 
supplies, while 29 percent supported production of more oil, gas and 
coal supplies as the solution.
  This bill demonstrates the extraordinary power of energy conservation 
to reduce the need for wasteful, inefficient, and capital intensive 
energy projects. There is no other Federal policy proposal that has the 
potential to save this much energy and peak power or to help the 
economy so much for so little cost. I urge my colleagues to join the 
original co-sponsors in passing this bill.

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