A bill to temporarily extend the programs under the Higher Education Act of 1965.

Mr. President, I rise today to introduce the Energy Assistance Act of 2008, legislation which would assist people who want to invest in energy conservation and alternative energy technologies and help set us on a path toward energy independence.

As I visit communities around the State of Maine, I hear time and again that the high cost of energy is causing a crisis for many of our citizens. Rapidly increasing prices for home heating oil, gasoline and diesel fuel are a huge burden for many families, truckers, and small businesses. High oil prices affect virtually every corner of the economy, in Maine and throughout the country, and are a significant cause of the current economic downturn.

Mr. President, I am concerned that in this difficult economy, investments in energy conservation and alternative energy improvements are simply too costly for many American families and small businesses. For example, under the present code, taxpayers who install energy efficient windows receive a 10 percent tax credit, up to $200, and taxpayers who install solar water heating systems receive a credit of 30 percent, up to a total of $2000. In both instances, the investment which must be made by the taxpayer far exceeds the credit amount.

With oil prices as high as they are, most families and small businesses are already scrimping and saving to make ends meet, and they do not have the money to finance the gap between the tax credit we provide and the cost of the investment. Ironically, the higher oil prices climb, the harder it will be for taxpayers to bridge this gap.

The legislation I am introducing today calls for additional loan authority to support current Federal programs that help families and small businesses finance energy efficiency improvements. It also would provide much-needed grants for low-income individuals who cannot benefit from either tax credits or low-interest loans. These proposals, taken together, would go a long way toward achieving greater energy efficiency and reducing our Nation's dependence on foreign oil.

The loan authority I am proposing would expand existing Federal programs that make low-interest loans to individuals and small businesses for energy efficiency improvements. This new loan authority would be made available through a new energy assistance revolving loan fund within the Treasury Department. Individuals who make less than 115 percent of the median area income would be able to apply for low- interest loans to cover the difference between the tax credits available for energy efficiency improvements and up to 90 percent of the cost of those improvements. The Federal agencies can make these loans directly, or through their lender networks.

USDA, HUD, and other Federal agencies already have programs that can make loans of this kind to individuals. Small businesses can seek low- interest loans for energy efficiency improvements under existing loan programs such as the SBA's 7(a) program. The revolving loan fund called for by my bill will enable these agencies to offer more loans to the individuals and small businesses.

It is also important that we provide assistance to low-income individuals who do not have the income to benefit from tax credits, or who cannot afford to finance energy improvements even with low-interest loans. These individuals, especially, are still reeling from last winter's high energy prices, and it is critically important that they receive assistance before cold weather sets in again. To help those who are most in need, my bill would provide an additional $500 million in funding this year for grants for energy efficiency, weatherization, and renewable energy technology, and would double funding for the Weatherization Assistance Program. These grants will finance investments that will decrease energy prices for these citizens for years to come and are a wise investment.

My legislation also includes several proposals I have long advocated. I have included these proposals so that this bill captures an overall picture of the energy challenges that our Nation faces. For example, this bill extends important tax incentives for renewable energy and energy efficiency that have expired, or are about to expire. These provisions include the renewable energy production tax credit, Clean Renewable Energy Bonds, tax benefits for energy efficient buildings, products and power plants, the tax credit for Plug-In Hybrid vehicles, the exemption from the heavy vehicles excise tax for idling reduction units and advanced insulation, and energy efficiency tax credits for homes.

My bill would also provide a $500 tax credit to help consumers purchase and install new clean burning stoves, as well as efficient, clean wood pellet stoves, similar to a bill I introduced

with Senator Crapo earlier this year. This new tax credit reflects the reality that with oil prices soaring, wood is again the fuel of choice for many families throughout the country, just as it was during the height of the oil crisis in the 1970's.

I urge my colleagues to work together in a bipartisan way so that we can help Americans overcome the challenge of high oil prices and restore and strengthen our Nation's economy.

Mr. President, I rise today to introduce the Drug Trafficking Interdiction Assistance Act of 2008. The operation of unregistered, un-flagged, semi- and fully-submersible vessels to traffic narcotics and other contraband through international waters poses a serious threat to the safety of our communities and the security of our Nation.

Self-propelled semi-submersible water-craft, or SPSSs, can operate with a significant portion of their hull below the surface of the water, making detection very difficult. Recently we've seen an increase in the production and use of SPSSs originating in Colombia and embarking north in the Pacific Ocean with up to 12 tons of cocaine packed on board. SPSSs are typically less than 100 feet long, carry 4-5 crew, travel at speeds of up to 8 knots, and have a maximum range of 3,500 miles.

These submarines are often equipped with valves that allow the operators to quickly flood and sink the SPSS in the event of interception by law enforcement, sending the vessel and any drugs or other contraband on board to an unrecoverable depth. As the last part of the scuttling process, the operators eject from the SPSS, and law enforcement has no choice but to rescue them from the ocean in accordance with our obligations under international law. They avoid prosecution because no drugs are recovered. For the operators of these SPSSs, they are able to avoid prosecution--for now.

This bill turns the tables on the traffickers. It builds off of the good work by my colleagues Senators Lautenberg, Smith, Cantwell, and Snowe, who have a bill that criminalizes the operation of an unregistered, stateless semi-submersible or submersible vessel. The legislation that I have drafted would clarify that the defendant's intent in operating the SPSS was to evade detection, add a robust affirmative defense to protect legitimate researchers and explorers who may happen to use a semi-submersible vessel, include a tough criminal penalty provision to prosecute SPSS operators, and direct the United States Sentencing Commission to account for mitigating and aggravating factors in the Sentencing Guidelines.

As Chair of the Caucus International Narcotics Control and Judiciary Subcommittee on Crime and Drugs, I have worked to not only curb drug demand and increase treatment options, but also to drug traffickers and disrupt supply. This bill is an important step in curbing this emerging threat and shutting down this new mode of trafficking.

Between 2001 and 2007, there were 23 identified SPSS drug smuggling events. At the time, these vessels were largely seen by drug traffickers as risky and impractical. But after increasingly successful interdiction of go-fast boats and other means, drug traffickers began seeing SPSSs as a viable option. Between October 1, 2007 and February 1, 2008, alone, there were a reported 27 SPSS events that successfully delivered an estimated 111 tons of cocaine. At between $500,000 and $2 million per SPSS, they cost only a fraction of the profits these traffickers reap.

These vessels have the capacity to deliver more than just illegal drugs--an SPSSs could easily accommodate other contraband, like terrorist operatives and weapons of mass destruction in its cargo- holds. Their operation poses a significant danger to the United States and this legislation criminalizes their use while allowing for the continuation of legitimate research and exploring activities.

I want to recognize my friend Senator Lautenberg for his leadership on this issue. I look forward to working with him to enact a tough and fair law that disrupts drug trafficking and other illegal smuggling activities. I also thank Senators Grassley and Feinstein for their support, and I urge our colleagues to join us in supporting this important legislation.

Mr. Speaker, I move to suspend the rules and pass the Senate bill (S. 3352) to temporarily extend the programs under the Higher Education Act of 1965.

Mr. Speaker, I request 5 legislative days during which Members may revise and extend and insert extraneous material on S. 3352 into the Record.

Mr. Speaker, I yield myself as much time as I may consume.

Mr. Speaker, I rise in support of S. 3352, a bill to temporarily extend programs under the Higher Education Act of 1965.

We are at the final stages of completing the Higher Education Act, which we anticipate bringing to the floor for consideration of the conference report this week.

The bill under consideration today, S. 3352, will extend the programs under the Higher Education Act until August 15, 2008 to allow sufficient time for the Clerk to enroll the bill and send it to the President for his signature.

It has been nearly 10 years since the Higher Education Act was last authorized. I look forward to joining my colleagues on both sides of the aisle in both Chambers in completing the work on the HEA on behalf of our Nation's hardworking families and students.

Let me take a moment to commend the leadership of the Education Committee on both sides of the Capitol and on both sides of the aisle and their staffs for working so hard and so diligently to bring this very important piece of legislation to the floor in a bipartisan fashion.

The conference report has virtually unanimous agreement, and it includes in it several very important areas that will move us forward on issues of access and affordability on behalf of our students. It simplifies the student financial aid application process. It strengthens the campus-based financial aid programs principally through strengthening the Perkins loan program. It improves access to higher education for veterans. It deals with the abuses that we all now know so much about in the student loan program by incorporating the provisions of the Student Loan Sunshine Act. It strengthens the role of creditors, cracks down on diploma mills, and it strengthens college prep programs such as the TRIO programs.

These are just some of the important and beneficial features of the Higher Education Act that are now working their way through the conference process. Once it reaches the floor, I urge my colleagues to support it and to participate in the speedy passage of this important legislation.

With that, I reserve the balance of my time.

Mr. Speaker, I yield back the balance of my time.

Mr. Speaker, I yield myself such time as I may consume.

I rise in support of S. 3352, to temporarily extend the programs under the Higher Education Act of 1965. I am pleased to announce that this is the very last extension of the Higher Education Act that Congress will have to pass during this reauthorization. It has been a long journey, but I fully expect that Chairman Miller, that senior Republicans McKeon and Keller and that the rest of my colleagues will be here on the floor later this week to pass a conference report.

Since 2003, we've passed over one dozen extensions of this law since it first expired. S. 3352 will ensure that vital Federal college access and student aid programs will continue to serve those students for the next 2 weeks who depend upon them while the final conference report makes its way to the President's desk.

I am excited that Congress is ready to pass the Senate proposals that will ensure that students and their families will have the ability to get higher education Pell Grants, to obtain Perkins loans and to gain additional transparency into the costs of college, especially as students are getting ready to head back to school in a few short weeks.

I urge my colleagues to support this extension, and I yield back the balance of my time.

Mr. President, I ask unanimous consent that the Senate proceed to the immediate consideration of S. 3352, introduced earlier today.

Mr. President, I ask unanimous consent that the bill be read three times, passed, the motion to reconsider be laid upon the table, with no intervening action or debate, and any statements related to the bill be printed in the Record.