Mr. Speaker, I rise in strong support of H.R. 5156, the Clean Energy Technology Manufacturing and Export Assistance Act. I commend my good friend from Illinois for the outstanding work he did in leading the subcommittee and moving this and…
Mr. Speaker, I rise in strong support of H.R. 5156, the Clean Energy Technology Manufacturing and Export Assistance Act.
I commend my good friend from Illinois for the outstanding work he did in leading the subcommittee and moving this and the other legislation forward
today, and I also commend my colleagues, Ms. Matsui and Ms. Eshoo, as well as Mr. Rush, for their original cosponsorship, of which I am also proud to be one.
This bill will build up domestic manufacturing by promoting exports and clean energy technologies and will help the United States develop an early competitive advantage in this area. I urge my colleagues on both sides of the aisle, especially my good Republican friends, to join us in moving this legislation forward.
Now, we hear some objections to the bill's costs. It's time they be reminded that this is not an appropriation but an authorization. Moreover, should the funds be appropriated, H.R. 5156 will more than pay for itself through the growth in tax receipts from increased corporate revenue. The Department of Commerce estimates that every dollar invested in export promotion generates $56 worth of exports.
I urge my colleagues again to join me in moving this forward.
Thus in a corporate tax rate of 35 percent, additional revenues of only $40 million a year would have to be generated to cover the bill's annual $15 million authorization. This is more than double that which is based on the Department of Commerce's export promotion cost benefit analysis.
Mr. Speaker, if my Republican and Democratic colleagues are truly concerned about promoting job growth and improving the economy, they should vote in favor of this eminently sensible bill.
I've been a little distressed to hear my colleagues on the other side of the aisle making a fuss about the fact that they don't like things like cap-and-trade and other matters. That bill is not before us, and most of the other questions are not before us. I would remind my colleagues here that we are discussing increasing job opportunities at home by exporting things which are valuable and which help the world and which help the United States. I would remind my colleagues that they are better served to light a little candle rather than to sit there quietly and to curse the darkness.
When this administration came in, I would remind my colleagues that the previous administration had left us two wars, a depression, and a deficit of $1.3 trillion. We are still trying to dig out of the mess which was left us by our Republican colleagues, and I would urge them to cooperate with us and to focus on the important things about creating jobs and getting opportunity and economic activity going forward. To continue the kind of self-defeating program that my Republicans seem to be sponsoring on the other side of the aisle----
I would urge my colleagues on the other side to join us. Let us move forward towards jobs; let us move forward towards economic development and activity; let us move forward towards cooperation on important matters, like seeing to it that the economy gets moving and Americans are going back to work.
Let's not sit around here whining and complaining about situations about which we have nobody at this particular minute at this particular time to address it. But we are addressing three pieces of legislation that are going to make economic prosperity a greater reality and a more real object of our attentions.
I urge my Republican colleagues to cease this nitpicking on the floor and this nattering, which I'm hearing coming from the other side, and work with us to put Americans back to work. And let us understand that the people have spoken in the last election, and they spoke for jobs and change. We are trying to give it to them, and we invite our Republican colleagues to give us a little bit of that cooperation that will enable us to move more easily forward.
I thank my colleagues.