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Congressional Record—Senate S8166

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S8166 CONGRESSIONAL RECORD — SENATE June 21, 2007 troops are getting killed; 14 more brave Under the previous order, the Senate spending, it taxes an additional $28.6 American soldiers. will resume consideration of H.R. 6, billion. But the problems aren’t just in Iraq. which the clerk will report. Somebody has to end up paying that The Middle East is engulfed in civil The assistant legislative clerk read tax. Most people in America know that war in Lebanon, civil war in Iraq, civil as follows: when you put a tax on a business, that war among the Palestinians. The A bill (H.R. 6) to reduce our Nation’s de- gets passed on to the consumers who Israelis do not know where to turn. pendency on foreign oil by investing in buy the product—in this case, gasoline. Iran is thumbing its nose at us. clean, renewable, and alternative energy re- So instead of reducing gasoline prices, That is why we have fought so hard, sources, promoting new emerging energy this bill, if the underlying amendment as Democrats, and will continue to technologies, developing greater efficiency, passes, is going to add to the cost of fight, to change the course in Iraq. We and creating a Strategic Energy Efficiency gasoline. and Renewables Reserve to invest in alter- Yesterday I mentioned a Heritage need a new mission, one that is aligned native energy, and for other purposes. with our strategic interests. We need Foundation study that confirmed that Pending: to begin redeploying our troops from what I was saying was not simply my Iraq so we can reduce our large combat Reid amendment No. 1502, in the nature of opinion but the facts as a result of a footprint and extricate forces from this a substitute. study that the Heritage Foundation Reid (for Bingaman) amendment No. 1537 had done. I would like to expand on Civil War. (to amendment No. 1502), to provide for a re- We need more than two Republicans that a little bit because we actually newable portfolio standard. have the figures for two States, the to help us. We have had two, and I so Klobuchar (for Bingaman) amendment No. appreciate that. They made it so we 1573 (to amendment No. 1537), to provide for State of the chairman of the com- were able to pass a bill, send it to the a renewable portfolio standard. mittee, Montana, and my State of Ari- President, and he vetoed it. We need Bingaman (for Klobuchar) amendment No. zona, to illustrate the point. The study projects that gas prices in more. 1557 (to amendment No. 1502), to establish a Montana, for example, in May averaged I have signaled to my colleagues that national greenhouse gas registry. Corker amendment No. 1608 (to amendment at $3.17 per gallon. They would be $3.48 the Defense authorization bill will be No. 1502), to allow clean fuels to meet the re- per gallon next year as a result of the coming up shortly. We intend to wage newable fuel standard. Energy bill before the Senate. A Mon- our battle on Iraq, changing the course Cardin modified amendment No. 1520 (to tana taxpayer would see spending on of the war in Iraq. amendment No. 1502), to promote the energy gasoline increase by $1,632.95 next year, independence of the United States. f Collins amendment No. 1615 (to amend- as a result of the bill. In Arizona, we are paying about $3.09 SCHEDULE ment No. 1502), to provide for the develop- ment and coordination of a comprehensive per gallon. That would go up to $3.40 Mr. REID. This morning, under an and integrated U.S. research program that next year as a result of this bill, so Ari- order entered yesterday, the Senate assists the people of the United States and zona taxpayers will see spending on will resume the energy legislation. We the world to understand, assess, and predict gasoline increase by $1,140.51 next year will have 70 minutes of debate on the human-induced and natural processes of ab- as a result of this Energy bill. That is matter of the Kyl amendment, which is rupt climate change. a huge increase in consumers’ payment No. 1733, and a motion to invoke clo- Baucus amendment No. 1704 (to amend- for gasoline. When we realize that for ture on the Baucus-Grassley energy tax ment No. 1502), to amend the Internal Rev- enue Code of 1986 to provide for energy ad- many people driving is not a luxury, it amendment, with that time equally di- vancement and investment. is a requirement—to get to work or vided and controlled. Once the time is Kyl-Lott modified amendment No. 1733 (to perform work—it is clear we are cost- used or yielded back, the Senate will amendment No. 1704), to provide a condition ing the American consumer a huge conduct two rollcall votes: The first precedent for the effective date of the rev- amount of money that is important for vote will be in relation to the Kyl enue raisers. our economy and for them to make a amendment, followed by cloture on the The ACTING PRESIDENT pro tem- living. That is an unintended con- Baucus-Grassley amendment. As Mem- pore. Under the previous order, there sequence of the tax increases embodied bers are aware, if cloture is invoked on will now be 70 minutes of debate equal- in this bill but real nevertheless. the Baucus amendment, then post- ly divided prior to a vote in relation to What we are saying is, if that is the cloture time runs and the second-de- amendment No. 1733, offered by the result of tax increases, then those tax gree amendments which have been Senator from Arizona, Mr. KYL, and increases would not go into effect. I timely filed and are germane the motion to invoke cloture on think that is an important principle postcloture are in order. The filing amendment No. 1704, offered by the for us to establish. I would like to respond to a couple of deadline for germane second-degree Senator from Montana, Mr. BAUCUS. amendments is 11 a.m. this morning, 20 The Senator from Arizona is recog- points made by opponents of my minutes from now. nized. amendment. The chairman of the Fi- nance Committee argued the tax in- The ACTING PRESIDENT pro tem- AMENDMENT NO. 1733 pore. The Senator from Arizona. creases in the underlying bill are sim- Mr. KYL. Mr. President, resuming ply loophole closers, but that is not f debate on the amendment which I of- true. The largest tax increase in the fered, the amendment is very straight- ORDER OF BUSINESS bill is a brandnew tax. It is not a loop- forward. It simply says that notwith- hole closer, it is a new 13-percent tax Mr. KYL. Mr. President, to advise standing the tax increases, $28.6 billion on new oil production in the Gulf of those on the other side how Senator in tax increases in the amendment Mexico. How is that going to help bring DOMENICI and I intend to divide our pending on the floor, they shall not down gasoline prices? I suggest it is time, I have 15 minutes. I think what I take effect unless the Secretary of En- not. It will help to raise prices. will do is take 5 minutes right now and ergy certifies that those tax increases The second largest tax increase in then defer to Senator DOMENICI for his will not increase retail gasoline prices the bill raises the corporate tax rate. 20 minutes. Then I will conclude. Of or the reliance of the United States on That is not a loophole closer either, it course, the majority will be fitting foreign sources of energy. is simply needed to pay for the other their time in there as well. That is The point of the amendment is to costs of the bill, so it was a ready what we intend to do. make it clear that sometimes tax in- source of revenue that they decided to f creases on business can be passed on to tap. consumers. If that happens in this case, This is a raise in the corporate tax CREATING LONG-TERM ENERGY we are going to see higher gasoline rate for oil and gas companies, which ALTERNATIVES FOR THE NA- prices at the pump, not lower prices. would then make it higher on those TION ACT OF 2007 One of the concerns many of us have companies than others in manufac- The ACTING PRESIDENT pro tem- with the underlying bill is it doesn’t turing—something we were trying to pore. Will the Senator suspend to allow produce any new energy. Yet it spends promote when we passed the bill 2 the Senate to report pending business. $28.5 billion. To make up for that years ago. VerDate Mar 15 2010 22:20 Mar 13, 2014 Jkt 081600 PO 00000 Frm 00002 Fmt 0624 Sfmt 0634 E:\2007SENATE\S21JN7.REC S21JN7 mmaher on DSKCGSP4G1 with SOCIALSECURITY June 21, 2007 CONGRESSIONAL RECORD — SENATE S8167 Raising the corporate tax rate is ob- I cast this vote, and I think it is an clean coal energy bonds are smart fi- viously not a loophole closer. I suggest informed vote based on my experience. nancial incentives, and those tax poli- when you raise marginal tax rates, you It is with a deep sense of responsibility cies complement many of the goals we either get less production or higher to do what is right, with a keen inter- have sought to achieve in the previous prices—more likely, both—not good re- est and understanding of energy policy, legislation.
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