Energy Policy Act Of 2003
Mr. Chairman, will the gentleman yield? Mr. Chairman, I thank the chairman of the Subcommittee on Select Revenue Measures for yielding. He has played a major role in putting together, with the members of the Committee on Ways and Means,…
Mr. Chairman, will the gentleman yield?
Mr. Chairman, I thank the chairman of the Subcommittee on Select Revenue Measures for yielding. He has played a major role in putting together, with the members of the Committee on Ways and Means, the tax portion of the energy bill.
Mr. Chairman, one of the more enjoyable things about this job, when we know we are going to conference with the other body, is trying to anticipate the concerns of those who are trying to look at what the product of a conference committee is going to be prior to the opportunity of actually having the conference and putting the product together. So one of the things that I think is important for us to do is to engage in a discussion at this point of what we anticipate the conference report will look like.
As a first step, the gentleman from Kentucky (Mr. Lewis), as a member of the committee, certainly has some concerns, and that is not so surprising when we recognize the fact that he is from the State of Kentucky.
Mr. Chairman, if the gentleman will continue to yield.
I thank the gentleman for yielding, and the question of the gentleman from Kentucky is obviously important not only to the gentleman from Kentucky, but the gentlewoman from West Virginia (Mrs. Capito) and, I am sure, a number of other Members on both sides of the aisle.
When we examine the Senate tax portion generated by the Committee on Finance of this energy bill, we find there are other credits that are not contained, for example, in the Ways and Means product, ethanol, biodiesel, coal and others. Similarly, the Ways and Means product has positions in it that are not in the Senate's. The goal would be to produce a product which picks up some of the more innovative approaches in the Senate bill, and we would hope, during the discussion, that the Senate would do the same.
The particular provision that the gentleman mentioned, the 4.3 excise tax removal, happens to be one of the few items that is exactly identical in both bills. That is an important decision. It means that decision has already been made. I can assure the gentleman that, as we sit down with the Senate, a number of those items, such as those that the gentleman has suggested, will be part of the melding of the Senate and the House packages.
Of course, it has to yet happen, and I know the gentleman will rely on me to provide a package from the House side that takes the important provisions of the House package and that the Senate will maintain the important provisions of its package. We will meld the two and bring it to the floor, and I am sure the gentleman will be very much in support of the conference report when we bring it to the floor.