Washington, DC – Rep. Tom Price (GA-06-R) issued the following statement today after Democrats failed to fulfill their pledge on investment in alternative energy.

The Promise:

“Finally, the bill creates a Strategic Renewable Energy Reserve to invest in clean, renewable energy resources, promoting new emerging technologies, developing greater efficiency and improving energy conservation.” – Speaker Nancy Pelosi (Click Here for Statement; Accessed: January 18, 2007)

“A sustained investment in research and development is crucial to creating cutting-edge technologies to develop these clean, sustainable energy alternatives and capitalize on America’s vast renewable natural resources…” (Portion of A New Direction for America; proposed by House Democrats in the 109th Congress as their plan for the majority)

The Reality:

House Democrats have pledged greater investment in alternative energy, and they will sell this claim to the American people under the guise of H.R. 6, their CLEAN Energy Act. The reality is that nothing in the bill guarantees greater investment. The revenue generated, which is achieved through tax increases, under H.R. 6 is directed to an alternative energy fund, but there is no enforcement mechanism to ensure the money will be spent on alternative energy. The truth is that the increased revenues will likely be directed to any federal discretionary spending. All the Democrats have created is a slush fund, not a viable means of funding alternative energy.

“What more appropriate way for our colleagues on the other side of the aisle to cap their 100 Hour Agenda,” said Price, “then to pass one final set of false goods on the back of a tax increase.”

“Once again, the Democrats want it both ways. They want credit for promoting clean, renewable energy while providing no real concrete plans on how to do it. Draining money from American companies, pushing investment overseas and handing a market advantage to foreign companies is not a plan. Moreover, alternative energy funds already exist through billions of dollars in private investment toward research and development. Unfortunately, Democrats believe a bureaucratically-run slush fund will provide a substantially better return.”

The Solution:

Positive, Principled, Solution-Oriented Leadership

Democrat Broken Promise Meter: 9

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