Mrs. CAPPS. Sequestration would be a huge blow not only to middle class families but also to our clean energy innovators and entrepreneurs.
According to the Office of Management and Budget, sequestration would impose an across-the-board cut of nearly 10 percent to critical clean energy and innovation programs. That would mean a $148 million cut to the Department of Energy's Energy Efficiency and Renewable Energy Program alone. These cuts would tremendously damage our ability to develop the clean energy technologies of tomorrow, technologies that lead not only to lower energy bills for our constituents but also to new businesses and middle class jobs. I see it every day in my congressional district, where cutting-edge companies like LaunchPoint Technologies and Transphorm use Federal funding to develop exciting new ideas that would otherwise languish on the drawing board.
Mr. Speaker, the threat of sequestration and the fiscal cliff is very real. It's time for us to come together and pass a balanced package that continues building for a clean energy future.