Braley Supports Measures to Decrease Gas Prices, Increase Energy Supply

Press Release

Today, Rep. Bruce Braley (D-Iowa) supported three bills to bring down gas prices and move towards energy independence.

The House voted today on three energy bills- The Responsible Federal Oil and Gas Lease Act (HR 6251), the Energy Markets Emergency Act (HR 6377) and the Saving Energy Through Public Transportation Act (HR 6052). Braley supported all three bills.

"Iowa families continue to suffer from record high prices at the pump," Braley said. "I'm proud that today Congress took action to make public transit more affordable and to crack down on unfair energy speculation. However, I'm disappointed that we were unable pass legislation to increase our domestic energy production here at home by producing more oil from existing energy exploration leases. Iowans deserve relief from high gas prices, and I will continue working hard to bring down gas prices for Iowa families."

Energy bills considered today by the House included:

The Saving Energy Through Public Transportation Act of 2008 - This bill reduces public transit fares, giving consumers an alternative to record-high gas prices. The bill provides transit grants to both rural and urban areas and provides funding to expand public transit services. This legislation passed on a vote of 322-98, with Braley's support.

The Energy Markets Emergency Act- This legislation stops excessive energy market speculation, which many economists believe is one of the causes for rapidly increasing gas prices. The Energy Markets Emergency Act gives the Commodity Futures Trading Commission emergency tools to curb energy speculation. The Energy Markets Emergency Act passed by a vote of 402-19, with Braley's support.

The Responsible Federal Oil and Gas Lease Act- This legislation requires oil companies holding federal leases to "Use It or Lose It." It will help lower gas prices by compelling oil companies to begin producing oil and gas on the roughly 68 million acres of public land they currently hold but are not using. This legislation failed on a vote of 223-195, requiring a two-thirds majority for passage. Braley voted in favor of this bill.

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