Floor Statements

Mr. President, I would like to announce for the information of the Senate and the public that a hearing has been scheduled before the Senate Committee on Energy and Natural Resources. The hearing

will be held on Thursday, March 12, 2009, at 2:45 p.m., in room SD-366 of the Dirksen Senate Office Building.

The purpose of the hearing is to consider the nomination of David Hayes to be Deputy Secretary of the Interior.

Because of the limited time available for the hearing, witnesses may testify by invitation only. However, those wishing to submit written testimony for the hearing record may do so by sending it to the Committee on Energy and Natural Resources, United States Senate, Washington, D.C. 20510-6150, or by e-mail to [email protected].

For further information, please contact Sam Fowler at (202) 224-7571 or Amanda Kelly at (202) 224-6836.

Mr. President, I would like to announce for the information of the Senate and the public that a hearing has been scheduled before the Committee on Energy and Natural Resources. The hearing will be held on Tuesday, March 10, 2009, at 10 a.m., in room SD-366 of the Dirksen Senate Office Building in Washington, DC.

The purpose of the hearing is to receive testimony on issues related to a bill to provide for the conduct of an in-depth analysis of the impact of energy development and production on the water resources of the United States, and for other purposes.

Because of the limited time available for the hearing, witnesses may testify by invitation only. However, those wishing to submit written testimony for the hearing record should send it to the Committee on Energy and Natural Resources, United States Senate, Washington, DC 20510-6150, or by e-mail to [email protected] .gov.

For further information, please contact Michael Connor at (202) 224- 5479 or Gina Weinstock at (202) 224-5684.

Committee on Energy and Natural Resources

Mr. President, I would like to announce for the information of the Senate and the public that a hearing has been scheduled before the Senate Committee on Energy and Natural Resources. The hearing will be held on Thursday, March 12, 2009, at 9:30 a.m., in room SD-366 of the Dirksen Senate Office Building.

The Committee will conduct a legislative hearing to examine draft legislation regarding siting of electricity transmission lines, including increased federal siting authority and regional transmission planning.

Because of the limited time available for the hearing, witnesses may testify by invitation only. However, those wishing to submit written testimony for the hearing record may do so by sending it to the Committee on Energy and Natural Resources, United States Senate, Washington, D.C. 20510-6150, or by e-mail to Gina_Weinstock@,energy .senate.gov.

For further information, please contact Leon Lowery at (202) 224-2209 or Gina Weinstock at (202) 224-5684.

Mr. President, I would like to correct the notice of a hearing before the Committee on Energy and Natural Resources previously announced on February 24.

The hearing will be a legislative hearing, rather than an oversight hearing. It will focus on draft legislative proposals on energy research and development.

In addition, the hearing will be held in SH-216, rather than in SD- 366.

The hearing will still be held on Thursday, March 5, 2009, at 9:30 a.m.

Mr. President, in accordance with rule XXVI, paragraph 2, of the Standing Rules of the Senate, I submit the rules governing the procedure of the Committee on Energy and Natural Resources for publication in the Congressional Record.

I ask unanimous consent that they be printed in the Record.

Mr. President, I would like to announce for the information of the Senate, that the hearing scheduled before Senate Committee on Energy and Natural Resources, for Thursday, February 26, 2009, will begin at 2:30 p.m., in room SD-366 of the Dirksen Senate Office Building.

The purpose of the hearing is to provide recommendations for reducing energy consumption in buildings through improved implementation of authorized DOE programs and through other innovative federal energy efficiency policies and programs.

For further information, please contact Deborah Estes at (202) 224- 5360 or Rosemarie Calabro at (202) 224-5039.

Mr. President, I would like to announce for the information of the Senate and the public that an oversight hearing has been scheduled before the Senate Committee on Energy and Natural Resources. The hearing will be held on Tuesday, March 3, 2009, at 10 a.m., in room SD-366 of the Dirksen Senate Office Building.

The purpose of this oversight hearing is to examine the progress on smart grid initiatives authorized in the Energy Independence and Security Act of 2007, and funded in the stimulus bill, and to learn of opportunities and impediments to timely installation of smart grid technologies.

Because of the limited time available for the hearing, witnesses may testify by invitation only. However, those wishing to submit written testimony for the hearing record may do so by sending it to the Committee on Energy and Natural Resources, United States Senate, Washington, D.C. 20510-6150, or by e-mail to [email protected].

For further information, please contact Leon Lowery at (202) 224-2209 or Gina Weinstock at (202) 224-5684.

Mr. President, I would like to announce for the information of the Senate and the public that an oversight hearing has been scheduled before the Senate Committee on Energy and Natural Resources. The hearing will be held on Thursday, March 5, 2009, at 9:30 a.m., in room SD-366 of the Dirksen Senate Office Building.

The purpose of this oversight hearing is to review future directions of energy research and development and to identify key scientific and technological hurdles that must be overcome in order to pursue these new directions.

Because of the limited time available for the hearing, witnesses may testify by invitation only. However, those wishing to submit written testimony for the hearing record may do so by sending it to the Committee on Energy and Natural Resources, United States Senate, Washington, D.C. 20510-6150, or by e-mail to [email protected].

For further information, please contact Jonathan Epstein at (202) 224-4971 or Rosemarie Calabro at (202) 224-5039.

Mr. President, section 405 of division A of this conference report involves an amendment to section 1304 of the Energy Independence and Security Act of 2007, which is under the jurisdiction of the Committee on Energy and Natural Resources, of which I am the chair. It is a provision that deals with the standards and protocols that will be used in Smart Grid demonstration projects. With respect to these demonstration projects, the conference report states that the Secretary of Energy ``shall require as a condition of receiving funding under this subsection that demonstration projects utilize open protocols and standards (including Internet-based protocols and standards) if available and appropriate.'' This is a clarification of language originally passed by the House of Representatives on the subject. It makes clear that all protocols and standards used by Smart Grid demonstration projects must be open. Some of those open protocols and standards may involve sending information over the Internet. Others may use other means of data transfer. The parenthetical inclusion of Internet-based protocols and standards under the requirement for open standards means nothing more than that to the extent that an open standard uses the Internet, it is still an open standard, but (1) the universe of open standards and protocols is not considered to be limited to only those which use the Internet, and (2) the mere use of the Internet would not cause a standard to meet the criterion of being open if it were not otherwise an open standard. There is no intent in this language to discriminate for or against any given

open protocol or standard, or to promote any one technology solution over another, so long as they are available and considered to be appropriate by the Secretary of Energy. The Senate expects the Secretary to conduct the process of making awards under this authority in a way that ensures there is no discrimination for or against any open protocol and standard that is otherwise available and appropriate.

Mr. President, I am pleased to join with Senator McCain in introducing a bill to amend the Morris K. Udall Scholarship and Excellence in National Environmental Policy Act, both to enhance the Udall Foundation and to honor one of the foremost environmental visionaries of American history, Stewart L. Udall.

The Morris K. Udall Foundation was established by Congress in 1992 to provide federal-funded scholarships to the growing number of students in America who wish to become environmental professionals in the public and private sectors and importantly, to identify and educate new generations of leaders in Indian Country. By now, there are more than 1,100 young Udall Scholars and Udall Native American interns around the country. The educational programs of the Foundation have earned national significance and are among the most sought after on American campuses.

In 1998, Foundation grew to include a new Federal environmental mediation program created by Congress. Named the U.S. Institute for Environmental Conflict Resolution, the agency has played a quiet leading role to find common ground on issues as diverse as Everglades Restoration to the joint tribal-federal management of the National Bison Range Complex. The Institute's small in-house staff, often working in partnership with members of its national roster of mediators, have handled important conflict resolution processes in collaboration with many federal departments including Interior, Defense, USDA Forest Service, and Transportation. Now more than ever, these skills are needed to move infrastructure projects and restore the economy.

The Udall Foundation is also a founder and funder of the Native Nations Institute, NNI, a graduate educator and policy center for Indian Country. NNI teaches a new way of governance on the reservations which embraces tribal identity as a core principle and smart business practices as a way to assist Indian nations rebuild their economies. In the last 5 years, more than 2,000 Native American leaders have benefitted from its courses. New leaders emerging from the Foundation's education programs are beginning to take their places in Tribal governance.

The Udall Foundation's Parks in Focus aims to connect underserved youth to nature through the art of photography. The Foundation organizes week-long trips, introduces members of local Boys & Girls Clubs, many of whom have never before left their communities, to some of the most beautiful natural landscapes in the country; provides them with Canon digital cameras to use and keep; and teaches the basics of photography, ecology, and conservation while exploring national parks, wildlife refuges, and other public lands. The Foundation will be expanding the Parks in Focus program significantly in the coming years.

The proposed legislation includes additional resources for operations of this fine agency as well as renaming it the Morris K. Udall and Stewart L. Udall Foundation, in recognition of the historic Interior Secretary's contributions.

Stewart Udall was Secretary of the Interior under Presidents Kennedy and Johnson, where his accomplishments earned him a special place among those ever to serve in that post and have made him an icon in the environmental and conservation communities. His best-selling book on environmental attitudes in the U.S., The Quiet Crisis, 1963, along with Rachel Carson's Silent Spring, is credited with creating a consciousness in the country leading to the environmental movement.

Stewart's remarkable career in public service has left an indelible mark on the Nation's environmental and cultural heritage. Born in 1920, and educated in Saint Johns, Arizona, Udall attended the University of Arizona for 2 years until World War II. He served 4 years in the Air Force as an enlisted B24 gunner flying 50 missions over Western Europe for which he received the Air Medal with three Oak Leaf Clusters. He returned to the University of Arizona in 1946 where he played guard on a championship basketball team and attended law school. He received his law degree and was admitted to the Arizona bar in 1948. He married Erma Lee Webb during this time. They raised 6 children.

Stewart was elected to the U.S. House of Representatives from Arizona in 1954. He served with distinction in the House for 3 terms on the Interior and Education and Labor committees. In 1960, President Kennedy appointed Stewart Udall Secretary of Interior. In this role, he oversaw the addition of four parks, 6 national monuments, 8 seashores and lakeshores, 9 recreation areas, 20 historic sites and 56 wildlife refuges to the National Park system. During his tenure as the Interior Secretary, President Johnson signed into law the Wilderness Act, the Water Quality Act, the Wild and Scenic Rivers Act and National Trails Bill. Stewart also helped spark a cultural renaissance in America by setting in motion initiatives that led to the Kennedy Center, Wolf Trap Farm Park, the National Endowments for Arts and the Humanities, and the revived Ford's Theatre.

Stewart currently resides in Santa Fe, NM, and will turn 90 years old in the coming year.

The Udall Foundation is an exemplary organization doing remarkable work and I am pleased to support additional resources to this agency. In addition, Stewart displayed significant leadership in helping to enact much of the legislation that protects our environment and lands today as well as being one of the first people to point to problems in the environment. For these and many other reasons, he deserves inclusion in the Foundation on par with his brother, Morris.

I look forward to working with my colleagues to ensure swift passage of this bill.

Mr. President, I am pleased to join with Senator McCain in introducing a bill to amend the Morris K. Udall Scholarship and Excellence in National Environmental Policy Act, both to enhance the Udall Foundation and to honor one of the foremost environmental visionaries of American history, Stewart L. Udall.

The Morris K. Udall Foundation was established by Congress in 1992 to provide federal-funded scholarships to the growing number of students in America who wish to become environmental professionals in the public and private sectors and importantly, to identify and educate new generations of leaders in Indian Country. By now, there are more than 1,100 young Udall Scholars and Udall Native American interns around the country. The educational programs of the Foundation have earned national significance and are among the most sought after on American campuses.

In 1998, Foundation grew to include a new Federal environmental mediation program created by Congress. Named the U.S. Institute for Environmental Conflict Resolution, the agency has played a quiet leading role to find common ground on issues as diverse as Everglades Restoration to the joint tribal-federal management of the National Bison Range Complex. The Institute's small in-house staff, often working in partnership with members of its national roster of mediators, have handled important conflict resolution processes in collaboration with many federal departments including Interior, Defense, USDA Forest Service, and Transportation. Now more than ever, these skills are needed to move infrastructure projects and restore the economy.

The Udall Foundation is also a founder and funder of the Native Nations Institute, NNI, a graduate educator and policy center for Indian Country. NNI teaches a new way of governance on the reservations which embraces tribal identity as a core principle and smart business practices as a way to assist Indian nations rebuild their economies. In the last 5 years, more than 2,000 Native American leaders have benefitted from its courses. New leaders emerging from the Foundation's education programs are beginning to take their places in Tribal governance.

The Udall Foundation's Parks in Focus aims to connect underserved youth to nature through the art of photography. The Foundation organizes week-long trips, introduces members of local Boys & Girls Clubs, many of whom have never before left their communities, to some of the most beautiful natural landscapes in the country; provides them with Canon digital cameras to use and keep; and teaches the basics of photography, ecology, and conservation while exploring national parks, wildlife refuges, and other public lands. The Foundation will be expanding the Parks in Focus program significantly in the coming years.

The proposed legislation includes additional resources for operations of this fine agency as well as renaming it the Morris K. Udall and Stewart L. Udall Foundation, in recognition of the historic Interior Secretary's contributions.

Stewart Udall was Secretary of the Interior under Presidents Kennedy and Johnson, where his accomplishments earned him a special place among those ever to serve in that post and have made him an icon in the environmental and conservation communities. His best-selling book on environmental attitudes in the U.S., The Quiet Crisis, 1963, along with Rachel Carson's Silent Spring, is credited with creating a consciousness in the country leading to the environmental movement.

Stewart's remarkable career in public service has left an indelible mark on the Nation's environmental and cultural heritage. Born in 1920, and educated in Saint Johns, Arizona, Udall attended the University of Arizona for 2 years until World War II. He served 4 years in the Air Force as an enlisted B24 gunner flying 50 missions over Western Europe for which he received the Air Medal with three Oak Leaf Clusters. He returned to the University of Arizona in 1946 where he played guard on a championship basketball team and attended law school. He received his law degree and was admitted to the Arizona bar in 1948. He married Erma Lee Webb during this time. They raised 6 children.

Stewart was elected to the U.S. House of Representatives from Arizona in 1954. He served with distinction in the House for 3 terms on the Interior and Education and Labor committees. In 1960, President Kennedy appointed Stewart Udall Secretary of Interior. In this role, he oversaw the addition of four parks, 6 national monuments, 8 seashores and lakeshores, 9 recreation areas, 20 historic sites and 56 wildlife refuges to the National Park system. During his tenure as the Interior Secretary, President Johnson signed into law the Wilderness Act, the Water Quality Act, the Wild and Scenic Rivers Act and National Trails Bill. Stewart also helped spark a cultural renaissance in America by setting in motion initiatives that led to the Kennedy Center, Wolf Trap Farm Park, the National Endowments for Arts and the Humanities, and the revived Ford's Theatre.

Stewart currently resides in Santa Fe, NM, and will turn 90 years old in the coming year.

The Udall Foundation is an exemplary organization doing remarkable work and I am pleased to support additional resources to this agency. In addition, Stewart displayed significant leadership in helping to enact much of the legislation that protects our environment and lands today as well as being one of the first people to point to problems in the environment. For these and many other reasons, he deserves inclusion in the Foundation on par with his brother, Morris.

I look forward to working with my colleagues to ensure swift passage of this bill.

Mr. President, I would like to announce for the information of the Senate and the public that a hearing has been scheduled before the Committee on Energy and Natural Resources. The hearing will be held on Thursday, February 26, 2009, at 2:15 p.m., in room SD-366 of the Dirksen Senate Office Building.

The purpose of the hearing is to provide recommendations for reducing energy consumption in buildings through improved implementation of authorized DOE programs and through other innovative federal energy efficiency policies and programs.

Because of the limited time available for the hearing, witnesses may testify by invitation only. However, those wishing to submit written testimony for the hearing record may do so by sending it to the Committee on Energy and Natural Resources, United States Senate, Washington, D.C. 20510-6150, or by e-mail to [email protected].

For further information, please contact Deborah Estes at (202) 224- 5360 or Rosemarie Calabro at (202) 224-5039.

Madam President, it was with sadness that I learned of the death of Don Alexander. I was honored and fortunate to get to know him in the later stages of his distinguished career when I joined the Finance Committee. His advice and guidance on a variety of matters, but particularly on issues involving the Internal Revenue Service, were invaluable to my staff and me. With Don, you knew he was always going to bring to bear the wisdom acquired over years of service to his country, and the taxpayers, and do so with the enthusiasm and energy of a person half his age.

Throughout his career, Don always stepped forward to answer his country's call to duty. He took his integrity, thoughtfulness, and decency to the battlefields in World War II, and to the Internal Revenue Service where he was Commissioner during some of its most troubling times. Don confronted all challenges with confidence and determination, never wavering from his principals or strong sense of fairness.

At a time when our President is calling for all Americans to consider the importance and the need for government service, we need look no farther for a role model than former Commissioner Alexander. I honor him for his service to our country and all that he did to make us a stronger Nation.

Mr. President, I thank my colleague and the chairman of the committee very much. I wish to talk today about an amendment I am hoping to offer. It is amendment No. 480. It relates to the funding of our national public land management agencies so they can create jobs and do the important work that needs to be done in their various jurisdictions.

We have had a lot of talk about how it is important that we focus the funds we have in this legislation on jobs that can be created quickly. We have had lots of talk about how we need to focus these resources on the real needs of the country and jobs where we can actively monitor the decisions that are made so we know that the money is not being wasted. In my view, this amendment does all of those things. It is a proposal to add an additional $2.5 billion to funding for the National Park Service, for the Forest Service, for the Fish and Wildlife Service, for the Bureau of Land Management, and for the Bureau of Indian Affairs to carry out the critical land and resource management

projects they have identified that need to be carried out on our public lands.

Fourteen Senators joined me in cosponsoring the amendment: my colleague, Senator Udall of New Mexico, Senator Boxer, Senator Wyden, Senator Merkley, Senator Cantwell, Senator Murray, Senator Baucus, Senator Tester, Senator Levin, Senator Stabenow, as well as Senators Kerry, Leahy, Schumer, and Senator Udall from Colorado.

Now, the estimates we have from the various public land management agencies are that this additional funding would allow them to create an additional 45,000 jobs between now and the end of the next fiscal year; that is, the end of September of 2010. I have heard a lot of criticism that the cost per job of this proposed legislation is too much, and I have heard the $800,000-per-job figure thrown around. When you look at this, all the figures I have indicated that we are talking about $56,000 per job for this next 2-year period. These jobs are vitally needed and can be carried out quickly.

Let me give some examples of what I am talking about and what I think could be done with this extra funding. One example in the National Park Service is we need to complete the stabilization construction for the seawall at Ellis Island and the asbestos removal at the Statue of Liberty National Monument. These are projects that are underway but don't have adequate funding to be completed. We need to repair trails at Olympic National Park. We need to replace substandard employee housing at Grand Canyon National Park. I am sure my colleagues from Arizona will recognize, having seen that substandard housing, that would be a good use of public funds. We need funding for road repair and replacement at Bandelier National Monument in my home State of New Mexico.

As far as Forest Service funding goes, much more funding is needed to thin the forests to reduce wildfire fuels and restore forest health. This thinning work is labor intensive. It is work that requires chainsaw crews and heavy-equipment operators. These people are out of work today. These people can be put to work very quickly doing this important work, and this forest thinning work protects our communities that are located near these national forests from wildfires.

The Bureau of Land Management has a tremendous amount of work that needs to be done with regard to reclaiming abandoned oil and gas wells and mine sites. In my State alone, we have 8,000 acres that are covered with abandoned oil wells and hundreds of abandoned mines waiting for reclamation funding. Again, there are contractors and there are workers who are anxious to have this work, if we would just fund it.

Regarding State and tribal wildlife grants, there are examples in my home State where we need to install fish screens, replace culverts, and we need to work in the Rio Grande area to restore cutthroat trout habitat, and much work can be accomplished there.

Mr. President, let me conclude by saying that if we want to put public funds into work that is important to the public and if we want to put public funds into projects that can create jobs quickly and stimulate the economy through that effort, I believe this amendment is ideally designed to accomplish that. I hope very much that my colleagues will support it.

There has been a lot of talk about how we need to reduce the size of this overall legislation. I don't agree with that. Virtually all of the economists--conservative and liberal--have all said, if anything, this legislation is too small as it currently stands. But whatever the size of the legislation, this is the kind of job-creation funding in which we ought to be engaging. I urge my colleagues to support the amendment.

I yield the floor.

Mr. President, I intended to offer an amendment to this bill to appropriate $1 billion to the Department of Energy Federal Energy Management Program, FEMP. The funds would have been used to expand the scope of energy savings performance contracts, ESPCs, and utility energy savings contracts, UESCs. In the last 10 years, 195 ESPCs and UESCs have invested about $3 billion in Federal facilities and have produced about 28,500 jobs. The costs of these projects have been entirely repaid from savings.

The amendment was necessary and consistent with our stimulus goals because it would have multiplied the job creation and the energy savings from every dollar of Treasury investment. In addition to providing significant financial leverage, ESPC and UESC projects comply with the standards the Congress established in section 432 of EISA--42 U.S.C. section 8253 (f)(1) through (f)(7)--for energy projects in Federal facilities: comprehensive energy and water conservation and efficiency measures, full utilization of renewable energy technologies, and transparency and accountability through long-term monitoring of project savings.

The amendment I intended to offer would have given FEMP the incentive to quickly clear its pipeline of about $2.2 billion of shovel-ready projects, to accelerate the pace of new project development so that we would have another $3 billion of projects implemented in the next 2 years, and enabled FEMP to expand the scope of the ESPC and UESC projects by paying for the advanced metering and monitoring systems that the Congress has mandated but not yet funded.

Based on the history of the ESPC and UESC projects, my amendment would have assured that about $6 billion of projects would be implemented, creating almost 60,000 jobs, at a cost to the Treasury of $1 billion. I, therefore, urge the Federal agencies that are receiving substantial new appropriations for energy projects to use the ESPC and UESC projects as models of what the Congress wants to see accomplished with the taxpayers' dollars.

Mr. President, I would like to announce that the Senate Committee on Energy and Natural Resources hold a business meeting on Wednesday, February 11, 2009 at 11:30 a.m., in room SD-366 of the Dirksen Senate Office Building.

The purpose of the Business Meeting is to consider pending business before the committee.

For further information, please contact Sam Fowler at (202) 224-7571 or Amanda Kelly at (202) 224-6836.

Committee on Energy and Natural Resources

Mr. President, I would like to announce for the information of the Senate and the public that a hearing has been scheduled before Committee on Energy and Natural Resources. The hearing will be held on Thursday, February 12, 2009, at l0 a.m. in room SD-366 of the Dirksen Senate Office Building.

The purpose of the hearing is to receive testimony on the current state of the Department of Energy Loan Guarantee Program, authorized under Title 17 of the Energy Policy Act of 2005, and how the delivery of services to support the deployment of clean energy technologies might be improved.

Because of the limited time available for the hearing, witnesses may testify by invitation only. However, those wishing to submit written testimony for the hearing record should send it to the Committee on Energy and Natural Resources, United States Senate, Washington, DC 20510-6150, or by email to [email protected] .gov.

For further information, please contact Mike Carr at (202) 224-8164 or Rachel Pasternack at (202) 224-0883.

Mr. President, today I recognize the Hostelling International USA for 75 years of service to intercultural understanding and youth travel.

Hostelling International USA is a nonprofit organization founded in 1934 to promote hostels and hostel-related programs in the United States. Today hostels across the country host nearly 1 million overnight stays by both domestic and foreign travelers. In doing so, it promotes cultural exchange through travel, supports tourism in small and large communities throughout the country, and makes travel available on very limited funds.

Hostels make travel safe and affordable for young and old. Hostelling International boasts more hostel rooms than most hotel chains and offers a unique experience in friendly and varied surroundings. Instead of staying in a standardized hotel room every night, travelers in a hostel have the opportunity to share a meal and engage with fellow travelers from every nation and cultural tradition they can imagine. It is these shared experiences and the unexpected encounter that makes hostelling such a unique and valuable experience for travelers across the country and around the world.

In my home State of New Mexico Hostelling International has operated hostels in Las Vegas, Silver City, Truth or Consequences, and Datil. Today their hostel in Taos offers travelers the opportunity to experience the majestic beauty of the New Mexico landscape and the unique culture of Taos pueblo, as well as a little celebrity sighting. These hostels have exposed New Mexico to a variety of travelers who, I am certain, will never forget their experiences in the Land of Enchantment.

I commend Hostelling International for their work in the last 75 years and hope that they look forward to at least another 75 years with an increasing number of hostels and travelers around the world.

Mr. President, part of this discussion has been what message does this amendment send. I will tell you what message it would send to me if we adopt this amendment. It sends a message to all corporations that do business overseas that they are never going to have to pay the regular corporate tax in this country on any earnings overseas. They are going to have to pay those on earnings in this country. If they keep a plant here and keep hiring people here, they are going to have to pay the regular corporate tax rate. But if they move those operations overseas, then they will be assured, with pretty good certainty, that every 4 or 5 years, Congress is going to come along and give them a 5.25-percent tax rate that they can bring those profits back with. I think that is a terrible message for us to be sending to U.S. corporations.

Part of the discussion has also been that U.S. corporations have to pay too much in taxes. I know Senator Dorgan said the effective tax rate, in his view, was 17 percent. I asked research to be done, and I want to show this chart so people can know what it says. The source for this information is the Organization for Economic Cooperation and Development, OECD. What this shows is that the effective corporate tax rate in this country--this is on profits generated in this country--the effective corporate tax rate is 13.4 percent. The average OECD corporate tax rate is 16.1 percent. We are way down on the list compared to most other industrial countries we compete against as far as the level of corporate tax we impose.

This amendment would say that this 13.4 percent is too high. What we need to do is say if you are going to generate your profits overseas, we are going to give you a special deal. As an incentive to put more of your operations overseas, we are going to give you a 5.25-percent tax rate on the profits you generate over there. To me that is just contrary to exactly what we are trying to do with this underlying legislation. The purpose of this legislation should be to stimulate job creation in this country. This amendment, to my mind, has the opposite effect. It promotes and incentivizes companies to move their jobs overseas.

I strongly oppose the amendment. I hope my colleagues will vote against it. I am one of those who voted for it the first time we did it because I believed what was said at that time, which was it was a one- time tax holiday. I did not realize that every 4 or 5 years we were going to be faced with another proposal to do the same thing.

If we want to redo the corporate tax rate, that is a good debate. We ought to have that debate. We ought to have it in the Finance Committee. But we should not be in a de facto way providing for a 5.25- percent corporate tax rate for anyone who is willing to earn their profits overseas.

Mr. President, I yield the floor.

Mr. President, I would like to announce for the information of the Senate and the public that a hearing has been scheduled before the Senate Committee on Energy and Natural Resources. The hearing will be held on Tuesday, February 10, 2009, at 10:00 a.m., in room SD-366 of the Dirksen Senate Office Building.

The purpose of the hearing is to receive testimony on a majority staff draft for a Renewable Electricity Standard proposal.

Because of the limited time available for the hearing, witnesses may testify by invitation only. However, those wishing to submit written testimony for the hearing record may do so by sending it to the Committee on Energy and Natural Resources, United States Senate, Washington, D.C. 20510-6150, or by e-mail to [email protected].

For further information, please contact Leon Lowery at (202) 224-2209 or Gina Weinstock at (202) 224-5684.

Committee on Energy and Natural Resources

Mr. President, I would like to announce for the information of the Senate and the public that a hearing has been scheduled before Committee on Energy and Natural Resources. The hearing will be held on Thursday, February 12, 2009, at 9:30 a.m., in room SD- 366 of the Dirksen Senate Office Building.

The purpose of the hearing is to receive testimony on the current state of the Department of Energy Loan Guarantee Program, authorized under Title 17 of the Energy Policy Act of 2005, and how the delivery of services to support the deployment of clean energy technologies might be improved.

Because of the limited time available for the hearing, witnesses may testify by invitation only. However, those wishing to submit written testimony for the hearing record should send it to the Committee on Energy and Natural Resources, United States Senate, Washington, DC 20510-6150, or by e-mail to [email protected].

For further information, please contact Mike Carr at (202) 224-8164 or Rachel Pasternack at (202) 224-0883.