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Congressional Record—Senate S3891

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Congressional Record—Senate S3891 March 26, 2009 CONGRESSIONAL RECORD — SENATE S3891 present—and all the support staff who success in baseball, our national pas- leader in advanced energy manufac- have helped them succeed—I extend my time. turing. warm congratulations on this 50th an- f Mr. BAUCUS. I thank my colleague niversary. CREDIT FOR INVESTMENT IN from New Mexico, the chairman of the f ADVANCED ENERGY FACILITIES Energy and Natural Resources Com- mittee, for his dedication to this issue. TRIBUTE TO LOUISVILLE Mr. BINGAMAN. Mr. President, I rise I am pleased to have worked with Sen- SLUGGER for a colloquy with the chairman of the ator BINGAMAN, the chairman of the Fi- Finance Committee, Senator BAUCUS, Mr. MCCONNELL. Mr. President, I nance Subcommittee on Energy, Nat- to discuss section 1302 of the American rise today to pay tribute to a fine Lou- ural Resources, and Infrastructure, on Recovery and Reinvestment Act, isville product that is recognizable this new incentive. And I whole- around the world and to the wonderful ARRA, which the President signed into heartedly agree with Senator BINGA- company behind it that is still knock- law on February 19, 2009 (Public Law MAN that we cannot allow the United 111–5). That section establishes a new ing it out of the park after 125 years. States to miss the opportunity to add tax credit, known as the section 48C Hillerich & Bradsby Co., makers of the thousands of green manufacturing jobs. credit, for investment in advanced en- famous Louisville Slugger, has made This new tax credit for investment in ergy facilities. over 100 million bats since 1884. advanced energy facilities will level Legend has it that the company’s I am very pleased that ARRA estab- the playing field so that the U.S. can first bat was made by 17-year-old John lishes this new credit. Because until compete for these jobs, and I was A. ‘‘Bud’’ Hillerich in his father, J.F. now, all of our investment tax credits pleased to include it in my chairman’s Hillerich’s, woodworking shop, after for renewable energy technologies have mark when the Finance Committee local baseball star Pete Browning been concentrated downstream that is, considered this legislation. broke his bat. Bud invited him to the at the commercial or individual con- shop and handcrafted a new one on a sumer level. While those incentives Under section 1302 of ARRA, the steam-powered lathe. have created some U.S. jobs, such as in Treasury Secretary is authorized to The next day, after Browning got installation, most advanced energy award total credits of up to $2.3 billion three hits in three at bats, baseball technologies that are installed in the for qualifying projects. Within 180 days players from all over the region began United States continue to be manufac- of enactment, the Treasury Secretary, to visit the Hillerich shop. From this, tured overseas. One major driver for in consultation with the Secretary of the Louisville Slugger was born. this overseas manufacturing is the sig- Energy, is required to establish a pro- The company has remained family nificant tax incentives that other gram to consider and award certifi- owned for five generations, and in that countries offer. For instance, Malaysia cations for projects that qualify for the time has become the most iconic brand and the Philippines offer solar photo- credit. The bill enumerates selection in the game of baseball. Players from voltaic manufacturers income tax holi- criteria that the Treasury Secretary T-ball to the Major Leagues all have days, for 15 years in the case of Malay- shall take into consideration. The Fi- used Louisville Sluggers, including sia, while Germany offers them up to 50 nance Committee developed these cri- such greats as Lou Gehrig, Joe percent of investment costs. As a re- teria with the Energy and Natural Re- DiMaggio, Jackie Robinson, and Babe sult, the U.S. is far behind, and is fall- sources Committee, and through the Ruth. Ruth personally gave bat makers ing further behind, in ‘‘clean tech’’ Chair, I would like to ask Senator at the company specifications for the manufacturing. According to one re- BINGAMAN to explain the criteria and Louisville Slugger bats he would use to cent study, Japan represents 45 percent clarify how Congress intends the ad- hit his record 60 home runs. of global solar cell production while ministration to implement this credit. In 1996, after operating elsewhere, the United States accounts for just 9 Mr. BINGAMAN. I thank the Sen- Louisville Slugger baseball bats came percent. And European manufacturers ator. At the outset, I note that this home to Louisville, as Hillerich & now account for more than 85 percent credit is a product of the Senate; it was Bradsby Co. placed their executive of- of the global wind component market. not included in the preconference legis- fices, wood bat plant, and a museum in But just as the U.S. is losing ground lation that was passed by the House. downtown Louisville, just 10 blocks in advanced energy manufacturing, we Overall, we intend the credit to pro- away from where Bud Hillerich made can anticipate rapid near- to mid-term mote the manufacture of property the first Louisville Slugger in 1884. The growth in domestic demand for renew- that, until recently, has not been wide- Louisville Slugger Museum & Factory able energy technologies. This demand ly deployed in the United States. In is now one of the major tourist attrac- will be driven by numerous factors, in- particular, the credit is intended to tions of Louisville, with more than 2 cluding last year’s extension of the benefit manufacturers of property (in- million visitors since its opening. commercial and residential investment cluding component parts of property) If any of my colleagues happen to be tax credits through 2016; extension by that (a) harnesses renewable resources in Louisville, my hometown, and want ARRA of the production tax credit to produce energy; (b) enhances the ef- to visit the Louisville Slugger Museum through 2013—2012 for wind; and declin- ficient use of energy derived from con- & Factory, it is very easy to find. Just ing product costs; anticipated enact- ventional or renewable resources; or (c) look for the 120-foot-long giant Louis- ment of national requirements for re- reduces greenhouse gas emissions from ville Slugger bat that marks the build- newable electricity deployment; and energy produced by conventional re- ing’s entrance. Every kid in town anticipated enactment of a market- sources. knows where to find the world’s biggest based system or tax to limit carbon bat and knows it marks the spot where emissions. But under the status quo, Treasury’s creation of transparent you can tour the factory and actually the corresponding growth in domestic scoring criteria will be critical for effi- see a Louisville Slugger being made. demand would largely have been satis- cient delivery of the allocated credit Today, Hillerich & Bradsby Co. manu- fied by imports. amount, which, in turn, will drive effi- factures more than 1 million wood bats For that reason, I worked with my cient deployment of private capital. a year, as well as aluminum bats, for friend from Montana, Senator BAUCUS, The new section 48C requires the professional and amateur use. to establish in ARRA the first tax cred- Treasury Secretary to make awards For millions of fans, the word ‘‘Lou- it for investment in advanced energy only to projects for which there is a isville’’ will always evoke the satis- facilities those that manufacture prop- reasonable expectation of commercial fying crack of a bat and the celebration erty that enables Americans to harness viability. Commercial viability pri- of a home run. This is thanks to the renewable resources to generate en- marily considers readiness for deploy- Louisville Slugger. The 2009 baseball ergy, to make energy efficient im- ment. It also considers capital require- season marks the Louisville Slugger’s provements, and to reduce greenhouse ments to reach end-consumers in a 125th anniversary, and I know all my gas emissions. I thank Senator BAUCUS cost-effective manner. Projects that colleagues join me in congratulating for sharing my commitment to putting have immediate and fungible markets Hillerich & Bradsby Co. for 125 years of our country on the path to being a and are positioned to compete in those VerDate Nov 24 2008 05:55 May 02, 2009 Jkt 079060 PO 00000 Frm 00075 Fmt 0624 Sfmt 0634 E:\RECORD09\RECFILES\S26MR9.REC S26MR9 mmaher on PROD1PC76 with CONG-REC-ONLINE S3892 CONGRESSIONAL RECORD — SENATE March 26, 2009 markets have greater commercial via- stores energy, the appropriate measure heating and cooling all year round, trips to bility than those that will require sig- is levelized cost of generated or stored the many doctors and Elks Rehab, it is all nificant additional market develop- energy, which factors the cost per kilo- but impossible for her to maintain a lifestyle where she can pay all her bills and eat. ment. Additionally, in determining vi- watt hours of energy generated. In the How very sad our country has come to this. ability the Secretary should consider case of property that conserves or more We seem to be able to help everyone else in the potential scale of market applica- efficiently deploys energy, such as the world but not our own citizens. tions, and therefore the project’s smart grid and metering technologies, Everyone in the news keeps saying it will broader impact. or that reduces greenhouse emissions, not do any good for years if we start drilling In allocating credits, section 48C di- the appropriate measure is levelized and building refineries.
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