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Finegold Calls for Increased Fuel Efficiency Standards and Hydrogen Tax Credit

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Date:
Location: Andover, MA

State Representative and Congressional candidate Barry Finegold called today for an aggressive push towards fuel efficiency and a federal tax credit for hydrogen fuel as the U.S. Senate begins deliberating its energy bill.

"Our government has to incentivize companies to both invest in alternative energies and to improve the efficiency of fossil fuel burning vehicles," said Finegold. "The federal government should be the leader in pushing our private sector economy towards the new frontier of energy independence. I believe that the U.S. Congress has a chance to push for some innovative strategies in the energy bill and we should not squander the opportunity."

One of the key problems facing investment in hydrogen fuel technology and use is the high up front costs of the infrastructure and fuel. A tax credit for hydrogen fueling infrastructure would lower the barrier to use of this innovative technology.

Additionally, Barry advocates for tougher fuel efficiency standards, which have not changed in two decades. Barry demonstrated with Step It Up Boston in April 2007 to push for an 80% reduction in greenhouse gas emissions by 2050.

"While I support an 80% reduction in greenhouse gas emissions by 2050, I am in favor of any change in fuel efficiency standards that move us towards that goal," said Finegold. "Last week at the G8 summit, President Bush failed yet again to make global warming a priority. Without an administration willing to tackle this crippling problem, we must call on the House and Senate to do so."

Barry believes that in addition to global warming and energy independence, this issue is about national security. Freeing America from its dangerous dependence on oil from hostile countries like Iran and others in the Middle East will both empower our foreign policy in the region and limit the power of our enemies.

Barry recently called for a $100 billion plan to push the federal government go green, in an attempt to jumpstart the hydrogen and alternative energy markets and have our government serve as a model for the private sector.


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