June 28, 2005

SENATE APPROVES LONG-AWAITED ENERGY BILL

Idaho integral in renewable energy initiatives

Washington, DC â??Idaho Senator Mike Crapo voted in favor of comprehensive energy legislation today that will boost renewable energy initiatives in Idaho and lessen the nationâ??s foreign energy dependence. As a member of the Senate Finance Committee which has jurisdiction over the financing for the national energy policy, he played an instrumental role in securing tax credits to expand nuclear power production to benefit the Idaho National Laboratory (INL). A member of the Senate Renewables and Energy Efficiency Caucus, Crapo also sponsored amendments to create a tax credit for renewable energy production for hydropower, wind, and solar power that were included in the final bill, which passed the full Senate 85-12.â??Advanced usage and increased production of renewable energy will not only relieve U.S. dependence on foreign energy sources but will also translate into lower prices for consumers and producers of energy while maintaining a clean environment,â?? Crapo said. â??The provisions in this bill are critical to Idahoâ??s historically low energy costs as hydropower is a major supplier of energy to the state.â??â??The United States has needed a national energy policy for years, and this bill puts us on the right track toward exploring new sources of energy while enhancing the nationâ??s economy. The tax package included in this bill is a critical factor in expanding production of energy sources while creating jobs and is crucial to our national and economic security. Increasing the available supply of domestic energy is important to American consumers and producers; this legislation benefits everyone.â??It has been 13 years since comprehensive energy legislation was passed by the Senate. The bill will now go to conference committee that will resolve the differences between the House-passed and Senate-passed bills.