Issue Position: Energy and Gas Prices

Issue Position

Middle class families are doing everything they can to cope with high gas and energy prices and tightening budgets, and that's why Congressman Pallone advocates an all-of-the-above strategy that expands production of American energy resources. The most critical aspect of this agenda is to incentivize clean, renewable energy such as solar and wind that is manufactured here in America.

Expanding American Energy Production

Congressman Pallone promotes extending the Production Tax Credit, which has generated massive amounts of new growth in the wind industry, a sector employing 85,000 Americans.

Congressman Pallone supports cutting the massive tax breaks and subsidies to Big Oil. The five largest oil companies made a record $137 billion in profits in 2011, so they don't need $4 billion in annual tax breaks.

Congressman Pallone advocates extending the 1603 solar grant program, which provides grants in lieu of tax credits to small renewable energy companies. Extending it for one year would create 37,000 jobs in the solar industry alone.

Lowering Gas Prices

Congressman Pallone supports EPA fuel efficiency standards that will reach 54.5 miles per gallon by 2025. Making vehicles more fuel efficient helps our environment but also reduces the amount of money consumers have to budget every month to fill up their tank.

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