Today, Congresswoman Carolyn McCarthy (NY-04) voted in favor of H.R. 2454, the American Clean Energy and Security Act. The legislation passed the U.S. House 219 to 212. The Act will help revitalize our economy by creating new jobs in clean energy technology fields, increase our national security by decreasing our dependence on foreign oil, preserve our environment by reducing the pollution that causes global warming, protect consumers from energy price increases and help industry move to clean energy technologies.
"This bill is an important first step in the right direction toward making our nation more energy independent, our environment cleaner and freeing us from our dependence on foreign oil. The American Clean Energy and Security Act will create jobs when our economy needs them the most and help industry transition to more sustainable practices that will ultimately cut global warming pollution," said Rep. McCarthy.
The American Clean Energy and Security Act will:
Create Jobs: The Act will generate private sector investment in clean energy to create new jobs that can't be shipped overseas and make America the global leader in clean energy technology. A report by the University of Massachusetts indicates that the expansion in clean-energy investments triggered by the Recovery Act and this Act today will generate roughly $150 billion per year in new clean-energy activity. This would generate a net increase of about 1.7 million jobs. Aggressive investment in energy efficiency would result in the creation of 37 million new jobs and $4.3 trillion in revenue by 2030. The Act protects jobs now, and helps energy-intensive industries like the steel, iron and paper industries transition to a cleaner, profitable future.
Moves America Towards Energy Independence: The Act will cut the use of oil and petroleum products by two million barrels a day in 2030 - as much oil as we currently import from the Persian Gulf. It will invest in new clean energy technologies, including energy efficiency and renewable energy ($90 billion in new investments by 2025), carbon capture and sequestration ($60 billion), electric and other advanced technology vehicles ($20 billion), and basic scientific research and development ($20 billion).
Reduces Pollution: The Act reduces dangerous pollution by limiting carbon emissions from electric utilities, oil refineries and other major sources. These limits are ambitious, achievable and will be fairly enforced. It will reduce carbon emissions from major U.S. sources by 17% by 2020 and over 80% by 2050 compared to 2005 levels. Complementary measures in the legislation, such as investments in preventing tropical deforestation, will achieve significant additional reductions in carbon emissions.
Protects Consumers: This Act will invest in cost-saving energy technology to save consumers money. It will also protect consumers with protections from energy price spikes, energy tax credits and cost-saving technology. According to estimates from the Environmental Protection Agency, the reductions in carbon pollution required by the legislation will cost American families less than a postage stamp per day. The nonpartisan Congressional Budget Office calculates that the legislation will cost the average household less than 50 cents per day.