Today, Congressman John Sullivan offered the following statement after the House Ways and Means Committee held a joint subcommittee hearing to explore the intersection of energy policy and the tax code, with a specific focus on H.R. 1380, the NAT GAS Act. Sullivan is the primary author of the NAT GAS Act, legislation that would create hundreds of thousands of American jobs while significantly reducing our dependence on foreign oil. Specifically, the bill focuses on jump-starting the use of natural gas fuel in our nation's transportation sector by offering limited, targeted, short-term tax credits and federal regulatory changes to encourage the production and purchase of natural gas vehicles. H.R. 1380 currently has 183 bipartisan cosponsors in the House and is supported by 240 businesses, large and small, to reclaim our energy, economic and national security future by unleashing the vast potential of American-made natural gas as a transportation fuel.
"America's continued addiction to foreign oil is not just an economic problem, it's a major national security issue. American taxpayers are sending over $1 billion per day overseas for oil imports, allowing foreign dictators to hold us hostage by setting the price we pay. Our national security is far too important to be left to the whims of OPEC to determine the price we pay for a gallon of gas. High gas prices limit economic freedoms that Americans enjoy, and given the fact that OPEC is a cartel, not a free market system, we are subject to their political whims for 5 million barrels per day of our nation's oil needs. This is unacceptable."
"I introduced the NAT GAS Act, so that our nation can begin to fully utilize the enormous energy potential our 125 year supply of natural gas offers. This bill will not only significantly reduce our dependence on foreign oil, but also create hundreds of thousands of private sector jobs across the country. With our nation suffering under the crushing weight of a 9% unemployment rate and the fact that the United States failed to create a single job in the month of August, the stakes could not be higher. We need a new direction for American energy security, and a plan to put Americans back to work -- the NAT GAS Act is a real solution to accomplish both.
"I want to thank my colleagues; Chairman Pat Tibieri (R-OH) and Chairman Charles Boustany (R-LA) for holding todays hearing and moving this important debate forward in the House."