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February 28, 2021
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CONGRESS-ENERGY
(2007-12-04)
(wgvu) - DEMOCRATIC CONGRESSIONAL LEADERS ARE WORKING
FOR A DEAL ON AN ENERGY BILL THAT WOULD INCREASE THE USE OF
RENEWABLE FUELS BY CARS AND POWER PLANTS.
THE EFFORT FOLLOWS THEIR AGREEMENT ON RAISING VEHICLE FUEL
ECONOMY BY 40 PERCENT.
ONE PROBLEM IS HOW TO COVER UP TO 3 MILLION DOLLARS A YEAR IN
LOST REVENUE IF MOTORISTS BUY LESS GAS BECAUSE OF THE MORE FUEL
EFFICIENT CARS AND TRUCKS.
CONGRESSIONAL RULES REQUIRE ANY REVENUE LOSSES FROM NEW
LEGISLATION TO BE OFFSET WITH NEW REVENUES.
THE BUSH ADMINISTRATION IS EXPRESSING CONCERN OVER THE RENEWABLE
FUELS AND AUTO EFFICIENCY PROVISIONS -- PARTICULARLY IF THEY COME
WITH A TAX INCREASE.
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