Electricity Market Manipulation Prevention Act
Legislative Activity
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Read twice and referred to the Committee on Energy and Natural Resources.
March 21, 2003
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Introduced in Senate
March 21, 2003
Sponsor introductory remarks on measure. (CR S4277-4278)
March 21, 2003
Read twice and referred to the Committee on Energy and Natural Resources.
March 21, 2003
Floor Debate
11 membersWhat members said about S. 681 on the floor
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Floor Debate
11 membersWhat members said about S. 681 on the floor
Mr. President, I rise today to introduce the Electricity Market Manipulation Prevention Act--legislation I believe is critical in ensuring our Nation's consumers will never again have to suffer from…
Mr. President, I rise today to introduce the Electricity Market Manipulation Prevention Act--legislation I believe is critical in ensuring our Nation's consumers will never again have to suffer from the type of energy price manipulation that has so devastated the economy of my home State of Washington. This bill is simple yet powerful in concept. In essence, it requires the Federal Energy Regulatory Commission to do its job--protect consumers from energy price manipulation.
This bill says that where FERC gives companies the authority to charge market-based wholesale electricity rates, the Commission must also actively ensure that effective competition--the only kind of competition that benefits consumers and businesses--actually exists. It says that if FERC finds that an entity has attempted to manipulate power markets, the Commission will revoke or modify the company's ability to sell power at market-based rates, and the company will be on the hook to pay back revenues in excess of the average regional cost of generating the power. And lastly, it says that FERC will not be allowed to change the legal standard for
reviewing whether consumers deserve relief from market manipulation.
I first want to make a very important point about this legislation. In large part, it does not expand FERC's existing authority under the Federal Power Act. It simply articulates more explicitly how Congress intends for FERC to exercise its existing authority.
Now why is this an important point? As many of my colleagues may know, FERC--under sections 205 and 206 of the Federal Power Act--is already given the responsibility of ensuring just and reasonable wholesale electricity rates, and fixing those rates when market activity has gone awry. So why do we need clarification? Because despite overwhelming and undisputed evidence that any number of energy companies--Enron and its ilk--engaged in activities designed to manipulate power markets in the west, FERC has to date failed to take action on behalf of consumers.
While prices started skyrocketing out of control during the summer of 2000, it took the Commission nearly a year to step in and reign in those prices throughout the west. The provisions of this legislation that require FERC to perform annual reviews of how well markets are functioning would help ensure the Commission's active oversight, and prevent the type of price gouging from which consumers and businesses in my sate continue to suffer.
While the Commission did finally step in to cap prices--under intense congressional pressure, I might add--it has, almost 2 years later, failed to decisively act on the billions of dollars' worth of refund and long-term contract complaints resulting from the crisis. What's more, the Commission's Administrative Law Judges have taken every opportunity to throw additional hurdles in the path of the Northwest consumers, who have suffered more than any as a result of California's ill-fated restructuring scheme. That's why this legislation specifically articulates what legal standard should apply to the Commission's review of complaints for relief.
Even in the face of admitted market manipulation--in the most brazen of cases, where Enron has described its own schemes to drive up prices and Reliant's transcripts quote company traders explicitly voicing their plans to drive up prices throughout the west by withholding power--FERC has, more than two years later, failed to use all the tools at its disposal to send a message that such activities will not be tolerated, levying fines that are clearly inadequate compared to the economic devastation these activities have caused.
This bill makes the remedies for market manipulation far more transparent, doing away with the multiple years of arcane proceedings in which we are currently embroiled. The protracted cases resulting from the western energy crisis have yet to benefit anyone--certainly neither the industry nor consumers--except, perhaps, for energy attorneys.
This legislation tells energy companies that if they are going to attempt to manipulate markets, there will be harsh and immediate consequences. It says that if the commission finds that an entity has attempted to gouge consumers, it will revoke or revise its market-based rate authority, set a just and reasonable rate going forward, and order the refund of revenues collected above the average wholesale generation cost within the relevant regional power market. Concrete, explicit consequences--commensurate with the level of damage caused by marketplace shenanigans--should provide a powerful disincentive for companies tempted to engage in the types of behavior that have crippled the economy of Washington and other western states.
Now, I can already hear the outcry from some--but not all sectors--of the energy industry. They will claim that putting concrete remedies on the books--transparent mechanisms for consumer relief, and tangible penalties for companies that endeavor to gouge consumers--will breed too much uncertainty for participants in energy markets.
To those who would make that argument, I would simply say, it is absolutely absurd to suggest that energy companies can't make money unless they retain their legal rights to rip off the ratepayers of this country. Ensuring that FERC--which is supposed to be, in Chairman Pat Wood's own words, ``the tough cop on the beat''--takes swift and decisive action when energy companies attempt to manipulate markets is an issue of simple fairness and common sense. Afterall, it is our Nation's ratepayers--residential and industrial customers alike--who pay the price for FERC's inaction, and FERC is the only cop on the beat.
I have stood on this floor many times to speak of the economic train wreck created in my state by FERC's inaction in the face of the western energy crisis, which we now know resulted in large part from bad actors who decided to take advantage of a near-historic drought and tragically flawed market rules in California. Today, retail rates in many parts of my State of Washington have risen almost 50 percent, our unemployment is consistently among the top five in the nation, the demand for low- income energy assistance is at record levels, we are struggling to stave off yet another regional rate increase, and there is no end in sight--unless FERC takes long-overdue action.
This bill sends a clear signal to FERC: we expect you to right the wrongs from which consumers throughout the west continue to suffer, and we expect you to use your authority to ensure a repeat of the western energy crisis never occurs. There is no other competitively traded commodity aside from electricity--soy beans, wheat, pork bellies, metals--for which a prolonged price run-up can single-handedly cripple industries as diverse as aluminum smelting, microchip manufacturing, irrigated agriculture, paper production or aerospace. Clearly, the economic stakes are exceptionally high when it comes to electricity, and as such, Congress must demand a greater degree of accountability from both the industry itself and those who regulate it.
With this bill, we make Congress' intent perfectly clear: FERC must protect consumers; there will be swift and decisive action against those who endeavor to manipulate markets; and the deck will not be stacked against the consumers and businesses who are the victim of Enron-like schemes.
Mr. President, I rise today to introduce--along with my colleagues Chairman Domenici, and Senators Bingaman and Murray--the Genomes to Life Research and Development Act.
This bill capitalizes on the enormous success of the Human Genome Project, and promises to take this important research to the next level. While the mapping of the human genome is an unparalleled accomplishment on its own, this new initiative will allow researchers to go beyond the science of description, and begin to explore the complex interactions of the elements within cells.
It is those intracellular dynamics that truly hold the key to finding solutions to some of our most difficult scientific problems--from detection of biological and chemical agents and nuclear waste clean-up to figuring out new and more efficient ways to produce hydrogen, so crucial in attaining energy independence for this Nation. Where the Human Genome Project has provided researchers with the range and description of musical notes, Genomes to Life will enable scientists to begin to understand the way these notes are arranged to produce music-- the essential process of life.
The Genomes to Life Act sets out an aggressive path for DOE, to make this area a high priority for the Office of Science. Of course, none of this would be possible without the successes of the Human Genome Project, and I want to acknowledge the vision of this legislation's other sponsor, Chairman Domenici, in making that a reality. As some of my colleagues may be aware, the senior Senator from New Mexico laid the foundation for the Human Genome Project with legislation he first introduced in 1987.
I am thus extremely pleased to be working with him on this bill, which I believe is the Human Genome Project's logical successor. Our legislation would authorize the Department of Energy to design and establish national research centers to investigate proteomics and genomics. Proteomics refers to the study of proteins, how they are modified, when and where they are expressed, how they are involved in metabolic pathways, and how they interact with each other. Genomics refers to the study of three-dimensional structures of thousands of proteins--all of the proteins produced by a species.
These are exciting research fields that combine the discipline of physics, chemistry, biology, engineering, and advanced computational and mathematical modeling. The Department of Energy's Office of Science has a long history of success in large scale, cross-discipline scientific research and is thus well suited to manage this program. In addition, a significant component of the Human Genome Project has been the transfer of technology to the private sector, which has in turn catalyzed the multi-billion dollar U.S. biotechnology industry and fostered the development of new medical applications.
The Genomes to Life Act that Chairman Domenici, Senators Bingaman, Murray and I are introducing today provides a coordinated and comprehensive plan for the next generation of biotechnology research facilities. The functions and dynamics of all living cells are determined by the complex interactions of the constituent proteins. We do not yet understand these interactions, but the Genomes to Life Act will give us the best tools to investigate these microscopic mysteries. Put in simple terms, teams of American scientists will try to answer the fundamental question, ``How do cells work?'' This bill will ensure that state of the art facilities, leading edge equipment, and the next generation of commuters are available to map and model these complex interactions, as we strive to answer this critical question.
The promise of biotechnology research is especially important to my state of Washington--home to many world-class research facilities. Washington has over 190 biotechnology companies employing more than 11,000 people. In 2001, the annual revenue of these companies exceeded $1.2 billion. Nearly one half of these companies were based on technologies developed at research and development institutions and over 40 percent of the companies have been established in the past six years.
This legislation's provisions--ensuring that research with its origins at the Department of Energy provides the science and technology basis for new industries in biotechnology, and that DOE continues to identify appropriate commercial applications--will help this important economic sector continue to grow in Washington state and across the country.
The Genomes to Life Research and Development Act that Sens. Domenici, Bingaman, Murray and I have introduced today will strengthen our national security and our national economy. Additionally, the integrative and predicative understanding of biological systems will improve our ability to respond to the energy and environmental challenges of the 21st century. The Genomes to Life laboratories will attract top researchers and push the envelope of present technologies. The Genomes to Life Act will help the U.S. to maintain our premiere position in the world in the fields of science and technology.
I look forward to working with my colleagues during this session to ensure passage of this legislation. I believe that the United States must continue to invest in scientific research to maintain our standing in the world and I am confident that this short-term investment will pay long-term dividends to our health, our security, and to our economy.
Mr. President, I rise today to introduce the Electricity Market Manipulation Prevention Act--legislation I believe is critical in ensuring our Nation's consumers will never again have to suffer from…
Mr. President, I rise today to introduce the Electricity Market Manipulation Prevention Act--legislation I believe is critical in ensuring our Nation's consumers will never again have to suffer from the type of energy price manipulation that has so devastated the economy of my home State of Washington. This bill is simple yet powerful in concept. In essence, it requires the Federal Energy Regulatory Commission to do its job--protect consumers from energy price manipulation.
This bill says that where FERC gives companies the authority to charge market-based wholesale electricity rates, the Commission must also actively ensure that effective competition--the only kind of competition that benefits consumers and businesses--actually exists. It says that if FERC finds that an entity has attempted to manipulate power markets, the Commission will revoke or modify the company's ability to sell power at market-based rates, and the company will be on the hook to pay back revenues in excess of the average regional cost of generating the power. And lastly, it says that FERC will not be allowed to change the legal standard for
reviewing whether consumers deserve relief from market manipulation.
I first want to make a very important point about this legislation. In large part, it does not expand FERC's existing authority under the Federal Power Act. It simply articulates more explicitly how Congress intends for FERC to exercise its existing authority.
Now why is this an important point? As many of my colleagues may know, FERC--under sections 205 and 206 of the Federal Power Act--is already given the responsibility of ensuring just and reasonable wholesale electricity rates, and fixing those rates when market activity has gone awry. So why do we need clarification? Because despite overwhelming and undisputed evidence that any number of energy companies--Enron and its ilk--engaged in activities designed to manipulate power markets in the west, FERC has to date failed to take action on behalf of consumers.
While prices started skyrocketing out of control during the summer of 2000, it took the Commission nearly a year to step in and reign in those prices throughout the west. The provisions of this legislation that require FERC to perform annual reviews of how well markets are functioning would help ensure the Commission's active oversight, and prevent the type of price gouging from which consumers and businesses in my sate continue to suffer.
While the Commission did finally step in to cap prices--under intense congressional pressure, I might add--it has, almost 2 years later, failed to decisively act on the billions of dollars' worth of refund and long-term contract complaints resulting from the crisis. What's more, the Commission's Administrative Law Judges have taken every opportunity to throw additional hurdles in the path of the Northwest consumers, who have suffered more than any as a result of California's ill-fated restructuring scheme. That's why this legislation specifically articulates what legal standard should apply to the Commission's review of complaints for relief.
Even in the face of admitted market manipulation--in the most brazen of cases, where Enron has described its own schemes to drive up prices and Reliant's transcripts quote company traders explicitly voicing their plans to drive up prices throughout the west by withholding power--FERC has, more than two years later, failed to use all the tools at its disposal to send a message that such activities will not be tolerated, levying fines that are clearly inadequate compared to the economic devastation these activities have caused.
This bill makes the remedies for market manipulation far more transparent, doing away with the multiple years of arcane proceedings in which we are currently embroiled. The protracted cases resulting from the western energy crisis have yet to benefit anyone--certainly neither the industry nor consumers--except, perhaps, for energy attorneys.
This legislation tells energy companies that if they are going to attempt to manipulate markets, there will be harsh and immediate consequences. It says that if the commission finds that an entity has attempted to gouge consumers, it will revoke or revise its market-based rate authority, set a just and reasonable rate going forward, and order the refund of revenues collected above the average wholesale generation cost within the relevant regional power market. Concrete, explicit consequences--commensurate with the level of damage caused by marketplace shenanigans--should provide a powerful disincentive for companies tempted to engage in the types of behavior that have crippled the economy of Washington and other western states.
Now, I can already hear the outcry from some--but not all sectors--of the energy industry. They will claim that putting concrete remedies on the books--transparent mechanisms for consumer relief, and tangible penalties for companies that endeavor to gouge consumers--will breed too much uncertainty for participants in energy markets.
To those who would make that argument, I would simply say, it is absolutely absurd to suggest that energy companies can't make money unless they retain their legal rights to rip off the ratepayers of this country. Ensuring that FERC--which is supposed to be, in Chairman Pat Wood's own words, ``the tough cop on the beat''--takes swift and decisive action when energy companies attempt to manipulate markets is an issue of simple fairness and common sense. Afterall, it is our Nation's ratepayers--residential and industrial customers alike--who pay the price for FERC's inaction, and FERC is the only cop on the beat.
I have stood on this floor many times to speak of the economic train wreck created in my state by FERC's inaction in the face of the western energy crisis, which we now know resulted in large part from bad actors who decided to take advantage of a near-historic drought and tragically flawed market rules in California. Today, retail rates in many parts of my State of Washington have risen almost 50 percent, our unemployment is consistently among the top five in the nation, the demand for low- income energy assistance is at record levels, we are struggling to stave off yet another regional rate increase, and there is no end in sight--unless FERC takes long-overdue action.
This bill sends a clear signal to FERC: we expect you to right the wrongs from which consumers throughout the west continue to suffer, and we expect you to use your authority to ensure a repeat of the western energy crisis never occurs. There is no other competitively traded commodity aside from electricity--soy beans, wheat, pork bellies, metals--for which a prolonged price run-up can single-handedly cripple industries as diverse as aluminum smelting, microchip manufacturing, irrigated agriculture, paper production or aerospace. Clearly, the economic stakes are exceptionally high when it comes to electricity, and as such, Congress must demand a greater degree of accountability from both the industry itself and those who regulate it.
With this bill, we make Congress' intent perfectly clear: FERC must protect consumers; there will be swift and decisive action against those who endeavor to manipulate markets; and the deck will not be stacked against the consumers and businesses who are the victim of Enron-like schemes.
Thank you, Mr. President. I rise today to speak on the Low Income Taxpayer Protection Act of 2003, which Senator Bingaman and I are introducing today. I thank Senator Bingaman for his leadership on…
Thank you, Mr. President. I rise today to speak on the Low Income Taxpayer Protection Act of 2003, which Senator Bingaman and I are introducing today. I thank Senator Bingaman for his leadership on this important issue.
The legislation that my colleague from New Mexico and I are introducing would provide the Department of the Treasury with the authority to regulate income tax refund anticipation loans, RALs, and prohibit excessive fees. The bill would also provide additional opportunities for low-income taxpayers to receive assistance with tax preparation and filing their taxes and thus, we are seeking to meet taxpayers' needs for assistance while attempting to discourage a predatory practice.
According to the U.S. Census Bureau, in 2001, the Earned Income Tax Credit, EITC, was responsible for elevating nearly four million people above the poverty line. This credit has helped and continues to help low-income individuals and families to meet their food, clothing, housing, transportation, and education needs.
However, while this tax relief is benefitting families who need it most, the EITC's impact is being unnecessarily limited. Earned Income Tax Credit benefits intended for working families are increasingly being diminished by often exorbitant tax preparation fees and the growing use of high-interest refund anticipation loans, which typically carry triple-digit interest rates.
In 1999, according to a report published by the Brookings Institution, an estimated $1.75 billion intended to assist low-income families went to commercial tax preparers and affiliated national banks for tax assistance, electronic filing of returns, and high-cost refund loans. Although tax preparation services are useful, when combined with refund anticipation loans and other fees, these services are overpriced. The report further stated that 39 percent of taxpayers who earned the EITC received their refund through a refund anticipation loan, while only
four percent of those who did not receive the EITC purchased a refund anticipation loan. Clearly, RALs were heavily marketed to a specific population of taxpayer. Forty-seven percent of all EITC dollars were distributed to recipients through these loans. In my state of Hawaii, in the Honolulu metropolitan statistical area, 27.7 percent of all EITC dollars were associated with refund anticipation loans. These loans take money away from the day-to-day, kitchen-table needs of the low- income families.
Furthermore, refund anticipation loans carry interest rates that range from 97.4 percent to more than 2,000 percent. The interest rates and fees charged on these products are not justified for the short length of time that these loans cover. The typical rapid refund loan length is two weeks. These loans carry even less risk because of the Debt Indicator program. The Debt Indicator program allows the Internal Revenue Service to inform the lender if the applicant for a refund loan has any outstanding Federal debts. The risk is further reduced because loan issuers share information about outstanding delinquencies that refund anticipation loan applicants owe and are able to collect debts for each other.
This bill would terminate the Debt Indicator program. In 1995, the use of the Debt Indicator was suspended because of massive fraud in e- filed returns with RALs. After the program was discontinued, RAL participation declined. The use of the Debt Indicator was reinstated in 1999. Remarks from H & R Block Chief Executive Officer Frank L. Salizzoni upon the reinstatement of the program state that the Debt Indicator ``is good news for many of our clients who opt to receive the amount of their refund through Refund Anticipation Loans. The IRS program will likely result in substantially lower fees for this service.'' However, according to a study conducted by the Consumer Federation of America and the National Consumer Law Center, that has not been the case for at least one of the major tax preparers. H & R Block and Household Bank's fees dropped for a year after the Debt Indicator was reinstated. The fees rose significantly from 2000 to 2001, which increased H & R Block's revenue from RALs by 49 percent. Per RAL revenue rose by 43.9 percent while RAL sales volume increased by only 2.7 percent. The expected outcome that RAL prices would go down as a result of the reinstatement of the indicator has not occurred. The use of the Debt Indicator should again be stopped.
Another important provision in the bill is authorization language for a grant program to link tax preparation services with the establishment of a bank account. There are still approximately four million EITC recipients that are classified as unbanked, and lack a formal relationship with a financial institution. It has been estimated that 45 percent of EITC recipients pay for check cashing services. These check cashing services reduce EITC benefits by $130 million. Having a bank account allows individuals not only to receive their tax refund check faster than waiting for a paper check, but also does not impose the excessive fees that check cashing services and refund anticipation loan providers assess. An account at a bank or credit union provides consumers alternatives to rapid refund loans, check cashing services, and lower cost remittances. In addition, bank and credit union accounts provide access to saving and borrowing services found at mainstream financial institutions. This grant program builds upon the First Accounts initiative which has funded pilot projects that have coupled tax preparation services with the establishment of bank accounts. An example of such a project is the partnership that has been established among The Center for Law & Human Services, Accounting Aid Society, ShoreBank, National Consumer Law Center, and Consumer Federation of America that is taking place in Chicago and Detroit. More of these programs are necessary to provide much needed tax preparation assistance and to encourage the use of mainstream financial services.
I encourage all of my colleagues to support this legislation.
Mr. President, I rise today to right a wrong. I am doing so on behalf of myself and Mr. Wyden, Mr. Allard, Mr. Bayh, Mr. Bond, Mr. Brownback, Mr. Miller, Mr. Nickles, Mr. Santorum, and Mr. Specter.…
Mr. President, I rise today to right a wrong. I am doing so on behalf of myself and Mr. Wyden, Mr. Allard, Mr. Bayh, Mr. Bond, Mr. Brownback, Mr. Miller, Mr. Nickles, Mr. Santorum, and Mr. Specter. For far too many years, Americans who have been murdered overseas by terrorists have not been receiving the full weight of equal justice under the law, a fundamental principle of our governance. This is happening while we are in the midst of trying to introduce the institutions of democracy, including the notion of a fair judicial system, to a skeptical part of the world. This is happening while we are in the midst of a War on Terrorism.
This double standard of justice sends out a pernicious, mixed message to would-be terrorists around the world. It suggests that we are weak in our resolve to prosecute certain terrorists who have murdered certain American citizens. It wrongly sends the message that certain American lives are more valuable and more worthy of justice than others. Or as the mother of Mathew Eisenfeld, a young Yale University graduate who was killed in 1996, together with his young fiance, Sara Ducker, a Barnard College graduate, put it, ``it makes me feel that my son's blood is less American than others.''
When our embassies were attacked in Kenya and Tanzania on August 7, 1998, then Secretary of State Albright and President Clinton said, ``You can run but you can't hide from the long arm of American justice. Anywhere an American is murdered around the globe, we will seek out that suspect and retrieve him to these shores to stand justice.''
However, since the signing of the Oslo Accords on September 13, 1993, thirty-nine American citizens have lost their lives at the hands of Palestinian terrorists alone. And how many indictments have there been in response to these thirty-nine murders? Zero. Notably, one can't find the term Palestinian on the State Department's web site for the ``Rewards of Justice'' program--the place where suspects are listed and rewards are described for their capture. That website rather contains only vague references to ``persons in opposition to the Middle East Peace Process.''
This is simply wrong. On the humanitarian level, it is wrong. When our own government fails to mete out justice with equal and due diligence for a particular victim, or a group of victims, this compounds the grief experienced by American families who have lost loved ones to terrorists: families such as that of 14 year old Abigail Litle, an American girl from New Hampshire, a young Christian who was among the fifteen people murdered in the recent terrorist attack on a bus in Haifa, Israel; families like those of Ted Burgon of Oregon and Rick Spier of Colorado, the two American teachers killed in August of 2002 in Indonesia. Murders for which there have been no indictments and no suspects named. FBI agents have underscored that until such time as they have full and unfettered access to witnesses and evidence in Indonesia, they cannot rule out terrorism, nor can they exonerate members of the Indonesian military who have been implicated in this heinous crime.
This is wrong as a matter of foreign policy. Anything less than 100 percent commitment to pursue all terrorists who harm or murder American citizens undermines our moral clarity and our War on Terrorism. it also serves to embolden would-be terrorists all over the world, ultimately putting us all at greater risk.
We have arrived at this unfortunate juncture because the State Department, whose major objective is diplomacy, has had primary purview over this issue. The State Department, it would seem, has simply not brought its full resources to bear when it comes to facilitating the investigation, capture and prosecution of those who have murdered Americans overseas. This is particularly true if those Americans have been murdered in Israel or in areas under control of the Palestinian Authority, or in countries whose support we are seeking or counting on in the War on Terrorism.
The major objective of the Justice Department, in contrast, is justice. The Justice Department recently scored a victory, when on February 20th, they issued indictments on several members of the Palestinian Islamic Jihad. That terrorist organization is believed to be responsible for the deaths of two American citizens, and dozens of other people in recent years. As we celebrate this substantial step toward justice, however, we cannot lose sight of the fact that there is much more work to be done.
We should not, and cannot, in good conscience allow the pursuit of justice to be suborned to diplomatic considerations and expediencies. This is why I am introducing the Koby Mandell Act of 2003. Koby was a 13 year old boy from Silver Spring, MD, who one day decided to do the Huck Finn thing, and skip school. However, the punishment did not fit the crime. His body was found brutally stoned and dismembered in a cave outside of Tekoah, Israel. His assailants remain at large in the Palestinian controlled areas.
This Act will create a watch-dog office within the Department of Justice to ensure that all terrorists who murder or harm American citizens overseas are pursued with equal vigor, irrespective of the nationality or current residence of the terrorist. This Act will work to ensure that no other American family who has suffered at the hands of overseas terrorism will have their grief compounded a lack of justice.
I urge you all to join me and my fellow senator from the State of Oregon, ron Wyden, by becoming a sponsor of the Koby Mandell Act, to put the issue of justice for American victims of overseas terrorism into the hands of the Justice department, where it truly belongs.
I ask unanimous consent that the text of the Koby Mandell Act of 2003 be printed in the Record.
Mr. President, I am pleased to join with my colleagues-- Senators Murray, Landrieu, Breaux, Bingaman, and Inouye--to introduce the Poison Control Center Awareness and Enhancement Act of 2003. Our…
Mr. President, I am pleased to join with my colleagues-- Senators Murray, Landrieu, Breaux, Bingaman, and Inouye--to introduce the Poison Control Center Awareness and Enhancement Act of 2003. Our bill is designed to help make certain that the vital work of our nation's poison control centers continues.
Many of us--as parents and grandparents--have experienced the terrifying situation when a child accidentally swallows something potentially toxic. Fortunately, local poison control centers--many of them located at children's hospitals--work around the clock to answer questions from parents and to field phone calls from others about possible poisonings. Today, we also have in place a national, toll-free poison control telephone number--and that number is 1-800-222-1222-- that automatically connects callers to specially trained nurses, pharmacists, and doctors at the closest local poison center.
This phone number went into effect as a result of legislation I helped get signed into law a few years ago. And now, as parents of eight children and now grandparents of eight, my wife, Fran, and I can tell you that we rest a bit easier knowing that in the case of a possible poisoning, all we need to do is call a toll free, 1-800 telephone number to get in contact with the nearest poison control center. Any parents, anywhere--whether they are in their own hometown or in another state on vacation--can call the 1-800 number, 24 hours a day, 7 days a week in the event of a poisoning.
There are over 70 poison control centers nationwide--three in my home State of Ohio. These centers have fielded over one million phone calls just since January 2002, answering questions about poisonous, drug abuse, product contents, substance identification interactions, and adverse reactions. They can answer questions and concerns about what would typically be called poisonous products--things like cleaners and bleach. This is the most common poison exposure for children, who typically ingest household products, such as cosmetics and personal care products, cleaning substances, pain relievers, foreign bodies, and plants.
But poison control centers can also answer questions about products that people may not think are poisonous, like prescribed medicines or over-the-counter medications. Maybe someone mixed medications or misread a label and took too much of the medicine by accident. Poison control centers can answer caller questions and direct the caller to seek medical attention if necessary.
I remember very clearly a time when Fran and I needed to call the local poison control center. As we were wrapping up our annual Ice Cream Social at our home in Cedarville, our then two year-old granddaughter, Isabelle, fell into a bucket of cleaning solution. We feared that she may have swallowed some of the solution and immediately called the poison control center. We were very lucky. The trained health care professional at the local poison center explained that all we needed to do was rinse Isabelle off and have her drink some water. The quick response of the poison control center provided rapid, easy answers to our questions--a process that has become even easier since the toll-free hotline began operating.
A young child, like Isabelle, is representative of most poisoning cases; however, adults often face situations necessitating information and help from poison control centers. Take the example of what occurred in Marysville, OH. Thirty workers in a manufacturing plant in Marysville were victims of gas exposure. Twenty of these workers went to Union Memorial Hospital. The hospital contacted the poison center, after which these patients were given oxygen and later discharged that same day. Ten others went to a different hospital that did not call a poison center. These patients were not released until the next day, even though their symptoms did not differ from the other 20 workers. The national hotline will help cut-down on situations like that in Marysville.
Our Nation's poison control centers handle an average of one poison exposure every 15 seconds. These centers are critical to our communities--especially now during this time of war and uncertainty. Parents are already anxious about the safety of their children, and with the potential anthrax scares or chemical or biologic scares, poison control centers can provide information to parents and help relieve some of their concerns.
The bill we are introducing today would provide the continued funding needed to ensure that the national toll-free number continues to operate, taking phone calls and helping families across the country. We must continue to increase the accessibility and effectiveness of our nation's poison control centers, as well as cement their existence for future generations. With this bill, we are not just making an investment in poison control; rather, we are making it easier to keep our children, friends, and ourselves safer and healthier.
I encourage my colleagues to remember the hotline number--it could save a life: 1-800-222-1222.
I ask unanimous consent that the text of the bill be printed in the Record.
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Mr. President, today I am introducing legislation to bring a small measure of relief to the families of our brave military personnel who are being deployed for the ongoing fight against terrorism,…
Mr. President, today I am introducing legislation to bring a small measure of relief to the families of our brave military personnel who are being deployed for the ongoing fight against terrorism, the war in Iraq, and other missions around the country and around the world.
The men and women of our Armed Forces undertake enormous sacrifices in their service to our country. They spend time away from home and from their families in different parts of the country and different parts of the world, and, too often, are placed into
harm's way in order to protect the American people and our way of life. We owe them a huge debt of gratitude for their dedicated service.
The ongoing deployments for the fight against terrorism and for the campaign in Iraq are turning upside down the lives of thousands of active duty, National Guard, and Reserve personnel and their families as they seek to do their duty to their country and honor their commitments to their families, and, in the case of the reserve components, to their employers as well. As of March 29, more than 212,000 National Guard and Reserve personnel were on active duty, and thousands more can expect to be activated in the coming days and weeks.
Some of my constituents are facing the latest in a series of multiple activations and deployments for family members who serve our country in the military. Others are seeing their loved ones off on their first deployment. All of these families share in the worry and concern about what awaits their relatives and hope, as we do, for their swift and safe return.
Our men and women in uniform face these challenges without complaint. But we should do more to help them and their families with the many things that preparing to be deployed.
Often, military personnel and their families are given only a couple of days' notice that their units will be deployed. These dedicated men and women then have only a very limited amount of time to get their lives in order. For members of the National Guard and Reserve, this includes telling their employers that they will be deployed for, in many cases, up to a year, and will be away from their jobs. I want to commend the many employers around the country for their understanding and support when an employee or a family member of an employee is called to active duty.
In preparation for a deployment, military families often have to scramble to arrange for child care, to pay bills, to contact their landlords or mortgage companies, and take care of other things that we deal with on a daily basis, from stopping the newspaper to making sure that their plants are watered and that their pets are cared for while they are gone.
The legislation that I introduce today would allow eligible employees whose spouses, parents, sons, or daughters are military personnel who are serving on or called to active duty in support of a contingency operation to use their Family and Medical Leave Act, FMLA, benefits for issues relating to our resulting from their deployment. These instances could include preparation for deployment or additional responsibilities that family members take on as a result of a loved one's deployment, such as child care.
I was proud to cosponsor and vote for the lgislaiton that created the Family and Medical Leave Act FMLA, in the early days of my service to the people of Wisconsin as a member of this body. This important law allows eligible workers to take up to 12 weeks of unpaid leave per year for the birth or adoption of child, the placement of a foster child, to care for a newborn or newly adopted child or newly placed foster child, or to care for their own serious health condition or that of a spouse, a parent, or a child. Some employers offer a portion of this time as paid leave in addition to other accured leave, while others require workers to use accrued leave or sick time for this purpose.
Since its enactment in 1993, the FMLA has helped more than 35 million American workers to balance responsibilities to their families and their careers. According to the Congressional Research Service, between 2.2 million and 6.1 million people took advantage of these benefits in 1999-2000.
Our military families sacrifice a great deal. Active duty families often move every couple of years due to transfer and new assignments. And as we rely more heavily on National Guard and Reserve personnel for more and more deployments that are longer in duration, the burden on their families also increases.
This legislation has the support of a number of military organizations, including the Wisconsin National Guard, the National Guard Association of the United States, the Reserve Officers Association, the Military Officers Association of America, and the Enlisted Association of the National Guard of the United States.
We owe it to our military personnel and their families to do all we can to support them in this difficult time. I hope what this bill will bring a small measure of relief to our military families.
I ask unanimous consent that the text of this bill be printed in the Record.
Mr. President, I rise to introduce the Genomes to Life Research and Development Act. I appreciate the bipartisan sponsors, Senator Cantwell, Senator Murray and Senator Bingaman who join me in its…
Mr. President, I rise to introduce the Genomes to Life Research and Development Act. I appreciate the bipartisan sponsors, Senator Cantwell, Senator Murray and Senator Bingaman who join me in its introduction.
In the last 2 years, there have been many events celebrating the completion of maps of the human genome. The genome map has been lauded from many quarters, with some referring to it as the ``recipe for life,'' our ``genetic fingerprint,'' or the ``holy grail of biology.'' There can be no question that the work of the DOE, the NIH, and private industry to complete this map has ushered in a new frontier in biological research.
I had the tremendous pleasure and honor of being the first legislator to recognize the importance of human genomics. It was at a March 1986 conference in Sante Fe, NM, led by Charles DeLisi and David Smith, that the first proposal for the DOE Human Genome Initiative was developed. And it was in 1987 that I introduced the legislation that laid the foundation for the Human Genome project. Senator Chiles worked with me in this effort, and both the Labor and Energy Committees had important roles in advancing the project.
The first year of appropriated funding was fiscal year 1988, with $11 million for the DOE and $17 million for the NIH. Since then, in completing the map, over $3 billion has been invested. I firmly believe that history will view that investment as one that truly changed medical and health sciences for all mankind.
I have found it amusing to review some of the arguments against the genome project in those early days. It was labeled as a ``mindless factory project,'' or ``a scheme for unemployed
bombmakers.'' One well known researcher said, ``The Idea is gathering momentum. I shiver at the thought.''
Now there's only praise for the future of this endeavor. I particularly value an autographed copy of the original genome map that was presented to me in February of 2001 by Craig Venter, president of Celera Genomics, with the inscription ``Your vision went beyond the parochial objections of the few and the doubts of the many, we all owe you our thanks.''
But even as we can see today that the benefits to mankind from the genome project will be immense, we also are nowhere near the point of fully utilizing the treasure trove of information in these maps. Today, we do not understand how details of genome sequence influence medical conditions. In short, we have a map, but aren't quite sure exactly how that map corresponds to reality.
With this bill, we authorize a new DOE program, Genomes to Life. Along with companion measures in the NIH, this DOE program will seek to interpret this wonderful new map and really begin to use it. Through these programs, we will begin to understand how our own DNA sequence, as expressed in our own genome map, translates into a collection of interacting proteins that function as our own personal molecular machine.
The intellectual challenges in this new initiative are immense. They require public support for the basic and applied research and development. There must be significant advances in areas like characterization of multi-protein complexes and gene regulatory networks that will be required before biologically based solutions and technologies will be available for applications to DOE missions.
New instruments will be essential in the Genomes to Life research. These may be instruments that haven't been invented yet. Specialized facilities will be required to advance the field and realize its promise. This bill envisions these facilities being built as user facilities, using the model that the Department already successfully uses for many facilities in diverse areas of science.
With the Genomes to Life program, and its companion programs at the NIH, we'll finally be in a position to understand how genomic information can be used to benefit mankind. From the NIH side, we will be far better equipped to understand many diseases. We may have drugs designed for specific genetic profiles, drugs may be screened for adverse interactions, and side effects of drugs may be predicted and avoided.
From the DOE side of the program, we may have biological approaches to hydrogen production or carbon sequestration. We may have new alternatives for detection and mitigation of biological threats. We may have new biological tools to handle complex cleanup issued at DOE sites.
This Bill lays the foundation for this new Genomes to Life program, and I encourage its support.
I ask unanimous consent that the text of the bill be printed in the Record.
Mr. President, I rise today with my colleague from Hawaii, Senator Akaka, to re-introduce the Low Income Taxpayer Protection Act of 2003. This legislation, if enacted, will give taxpayers much needed…
Mr. President, I rise today with my colleague from Hawaii, Senator Akaka, to re-introduce the Low Income Taxpayer Protection Act of 2003. This legislation, if enacted, will give taxpayers much needed assistance with the arduous annual task of preparing their Federal tax returns by providing them with real alternatives to paying for expensive tax preparation services. In doing so, many of these taxpayers will not need to take out expensive and oftentimes usurious refund anticipation loans that greatly reduce the tax refund that these taxpayers are entitled to receive. As we all know, the result of a complicated tax code is complex and confusing tax forms. Until Congress is able to provide simple and understandable forms for taxpayers, we have an obligation to make sure that taxpayers have the ability to prepare and file their tax returns without paying for expensive and sometimes abusive services.
Refund anticipation loans, RALs, are high interest loans offered to taxpayers that are secured by their anticipated tax refund. While some taxpayers may choose these loans willingly, many are often forced to take out a RAL to cover the upfront cost of the preparation services. Sadly, many taxpayers get caught with outstanding loans that they can't pay off because a mistake was made on their tax return resulting in a smaller than anticipated refund. Many of these loans, when annualized, have interest rates over 200 percent. As long as we require our Nation's taxpayers to determine their own tax liability, we will have a responsibility to make sure that these same taxpayers have an alternative to these expensive options. We must come up with better options for these taxpayers than paying usurious fees and expenses or not filing a return.
Recently the Brookings Institute and the Economic Policy Institute released a report that illustrated the abuses occurring with RALs. According to this report, roughly $1.75 billion of the earned income credit, EIC, funds are annually going to tax return preparers and RAL fees and costs. It was not the intent of Congress that this program would create such a middleman for these funds. Every dollar that goes to these businesses is a dollar that is not going to the intended beneficiaries. The EIC has become one of the most effective tools for fighting poverty and benefiting low and moderate income working families, and so it is essential that every dollar of this credit goes to the taxpayer.
To help low and moderate income taxpayers, my bill requires all those involved with RALs to register with the IRS. Treasury will then be required to determine what is a fair amount of interest and fees to be charged based on the benefit to the taxpayer and the risk to the lender. It will also expand the Volunteer Income Tax Assistance program by directly giving them matching funds to operate. VITA clinics are one of the few places lower income taxpayers can go to get free assistance with their tax returns.
In New Mexico, the VITA program has had an enormous impact. For example, in conjunction with Albuquerque Technical Vocational Institute, TVI, over 8,500 taxpayers were assisted with their returns last year resulting in over $9 million in refunds being brought back into the New Mexico economy. This year, this program is on pace to assist even more taxpayers. By utilizing a computer program system developed and advocated by Fred Gordon, an accounting instructor at TVI, even supervised high school students at Del Norte High School in Albuquerque have been preparing and filing tax returns. I commend the efforts of those directly involved with this program, as well as, the scores of volunteers who give their time to help prepare tax returns for their fellow New Mexicans. Through the efforts of groups such as the Albuquerque Hispano Chamber of Commerce, Public Service Company of New Mexico (PNM), TVI and Wells Fargo Bank, the VITA program has made a big difference in New Mexico, but more needs to be done. Our legislation will provide programs like these with the ability to get some matching Federal grants to make it possible to pay for training materials, computers or other necessary equipment. A little money can go a long way and I intend to keep working with my colleagues here in the Senate until this becomes a reality. This is a truly worthwhile goal and one that will greatly help communities in New Mexico as well as the rest of the country.
I ask unanimous consent that the text of the bill be printed in the Record.
Mr. President, I rise today to introduce this bill that will end the practice of forcing electric utilities to purchase unneeded electricity at above market rates--a practice that ultimately costs…
Mr. President, I rise today to introduce this bill that will end the practice of forcing electric utilities to purchase unneeded electricity at above market rates--a practice that ultimately costs consumers more.
This outdated practice began after the 1973-74 oil embargo. In the embargo's aftermath, we understood a far reaching assessment of our energy policies and enacted numerous laws to address the issues facing this country at that time. The Public Utility Regulatory Policies Act of 1978, PURPA, was one of several energy bills that resulted from those efforts.
In 1978, the electric utility industry in this country was based on monopolies and almost totally reliant on antiquated technologies. It was also highly territorial, having only limited ability
to move electricity from one part of the country to another.
PURPA was intended to address these issues. It was designed to alleviate real and potential shortages in electricity and encourage the use of alternative fuels to generate electricity. To do this, it established a new class of electricity generators. The goal was for these new generators to rapidly implement new generating technologies that the utilities had been slow to adopt and to expand the amount of electricity generated with alternative fuels.
To ensure that investors would build these new facilities, PURPA essentially guaranteed them a profit. It required the conventional electric utilities to purchase all of the electricity the new generators wanted to sell. Prices were essentially fixed--requiring traditional utilities to pay for the electricity based on the costs they ``avoided'' by not having to build additional capacity themselves.
And PURPA worked. It led to the development of plants converting waste to energy and to construction of smaller, more efficient generating facilities.
But much has changed since 1978.
Today there are competitive wholesale markets throughout the country, giving generation project developers many opportunities to see their output. The Energy Policy Act of 1992 and a variety of Federal Energy Regulatory Commission directives now ensure that generators have access to transmission lines, so that power can reach those markets. And we now have additional capacity coming from a variety of non-utilities using small-scale facilities and newer, more efficient technologies which allow them to be price competitive.
There have also been changes in the PURPA generators. One of PURPA's goals was to spur the use of alternative or renewable fuels, but 80 percent of the electricity currently generated by PURPA facilities is produced by burning natural gas, oil and coal. And the ``equitable'' prices imposed on electric utilities purchasing PURPA power are substantially higher than market rates, increasing the cost to consumers by roughly $8 billion annually. Exactly the opposite of what was intended.
The bill I offer today would rescind any requirement for electricity utilities to enter into new agreements to purchase electricity from PURPA facilities. It would not prevent utilities from buying PURPA power that is offered at competitive rates. And it would not affect existing PURPA agreements. Those agreements would remain in effect until they expire, allowing those PURPA facilities to continue selling their electricity to the utilities at the prices specified in the agreements. This approach would ensure that the investment in PURPA facilities can be recouped in accordance with the parties' expectations, but will protect consumers from new PURPA contracts-- contracts which force them to pay above market prices for electricity.
This bill would also ensure that the electric utilities that are required to purchase PURPA electricity, possibly for decades to come under existing contracts, have the flexibility to recover those costs.
I urge my colleagues to support this legislation, which is fiscally sound, and is an example of good government because it eliminates outdated and counterproductive legislation.
Mr. President, today I am introducing legislation to require that the Secretary of Defense issue regulations that would prevent a mother and father of minor children from being deployed to a combat…
Mr. President, today I am introducing legislation to require that the Secretary of Defense issue regulations that would prevent a mother and father of minor children from being deployed to a combat zone at the same time.
Under my legislation, the Secretary of Defense would have 15 days to implement this policy by issuing regulations that would include the definition of what comprises a combat zone.
As we wage war against Iraq, it is important that we work to ensure that a child will never have to endure the pain of losing both parents during wartime. Military families sacrifice so much to serve our Nation. We should do everything we can to ensure their children are not orphaned.
I hope my colleagues will support this legislation.
Mr. President, I ask unanimous consent that the text of this bill be printed in the Record.
Mr. President, I ask unanimous consent that the text of this bill be printed in the Record.
Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.
Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.
Bill Text
Latest available legislative text
[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 681 Introduced in Senate (IS)]
108th CONGRESS
1st Session
S. 681
To provide for the enhanced protection of electricity consumers under
the Federal Power Act.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 21, 2003
Ms. Cantwell (for herself and Mrs. Murray) introduced the following
bill; which was read twice and referred to the Committee on Energy and
Natural Resources
_______________________________________________________________________
A BILL
To provide for the enhanced protection of electricity consumers under
the Federal Power Act.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as ``The Electricity Market Manipulation
Prevention Act''.
SEC. 2. MARKET-BASED RATES.
Section 205 of the Federal Power Act (16 U.S.C. 824d) is amended by
adding at the end the following:
``(g) Market-Based Rates.--
``(1) In general.--For each public utility granted the
authority by the Commission to sell wholesale electric energy
at market-based rates, the Commission shall review, at least
annually, the characteristics of each market in which the
public utility is authorized to sell wholesale electric energy
at market-based rates to determine whether sales by the public
utility in that market are subject to effective competition.
``(2) No effective competition.--On determining that sales
in a market by a public utility are not subject to effective
competition, the Commission shall issue an order immediately
revoking the authority of the public utility to sell wholesale
electric energy at market-based rates in that market.
``(3) Condition.--In each authorization to a public utility
to sell wholesale electric energy at market-based rates, the
Commission shall include a condition requiring the public
utility to notify the Commission promptly of any change in any
characteristic of the market that the Commission relied on in
granting the authority.''.
SEC. 3. REMEDIES.
Section 206 of the Federal Power Act (16 U.S.C. 824e) is amended by
adding at the end the following:
``(d) Market-Based Rates.--The Commission shall issue an order
immediately revoking or modifying the authority of a public utility to
sell electric energy at market-based rates if, after a hearing had upon
its own motion or upon complaint, the Commission finds that--
``(1) a rate charged by the public utility authorized to
sell electric energy at market-based rates in a wholesale
electric energy market is unjust, unreasonable, unduly
discriminatory or preferential;
``(2) the public utility has intentionally engaged in an
activity in a wholesale electric energy market that violates
any rule, tariff, or order of the Commission; or
``(3) the public utility has engaged in or attempted to
engage in fraudulent, manipulative, or deceptive activity in a
wholesale electric energy market.
``(e) Fraudulent, Manipulative, or Deceptive Activities.--
Notwithstanding subsection (a), if the Commission finds that a public
utility has engaged in or attempted to engage in a fraudulent,
manipulative, or deceptive activity in a wholesale electric energy
market, the Commission shall--
``(1) establish the just and reasonable rate for all
prospective sales subject to the jurisdiction of the Commission
made by the public utility; and
``(2) require the public utility to refund any revenues
collected in excess of the average wholesale power cost of
service within the regional power market for the period in
which the public utility engaged in the activity.
``(f) Public Interest Standard.--
``(1) In general.--Except as provided in paragraph (2), the
Commission shall not apply the public interest standard in a
proceeding under this section for review of a transaction
executed at market-based rates.
``(2) No effective competition.--If the public interest
standard is explicitly contained in the contract at issue in a
proceeding described in paragraph (1), the Commission shall
apply the public interest standard in the proceeding unless the
Commission finds that the contract was not subject to effective
competition.''.
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