[Congressional Record Volume 154, Number 129 (Thursday, July 31, 2008)]
[House]
[Page H7634]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   PROMOTING NEW AMERICAN ENERGY ACT

  (Mrs. BACHMANN asked and was given permission to address the House 
for 1 minute and to revise and extend her remarks.)
  Mrs. BACHMANN. Mr. Speaker, as part of our action plan for energy, 
Republicans in the United States House of Representatives are asking 
that we push forward with an all-of-the-above energy plan to utilize 
every source of American energy to release us from our dependence on 
foreign oil.
  That's why today I'm introducing, Mr. Speaker, the Promoting New 
American Energy Act which accelerates tax depreciation to 3 years for 
investments in newer, cleaner, more efficient technologies, including 
wind, solar, and geothermal, as well as others.
  According to the nonprofit American Council for Capital Formation, 
American energy investments have less favorable tax depreciation rules 
in the United States compared to many other countries. This does not 
put America in a good position for alternatives.
  My bill will bring America's tax depreciation schedule in line with 
those of our major trading partners overseas, which will put America on 
a better foot globally, and that means more jobs in the United States.
  This will take us one step closer, Mr. Speaker, to increasing 
domestic energy production and making it more efficient.
  As a member of the Renewable Energy and Energy Efficiency Caucus, I 
ask my colleagues to promote newer, cleaner, more efficient energy 
solutions.

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