November 10,2003

Status of the Energy Tax Title Negotiations


To: Reporters and Editors
Re: energy tax title status
Da: Monday, Nov. 10, 2003

Sen. Chuck Grassley, chairman of the Committee on Finance, today made the following comment on the status of energy tax title negotiations.

“We made some progress over the weekend on resolving the differences between the Houseand Senate on the energy tax title. As of 4:30 p.m. today, there are still several outstanding energy tax issues. These issues include part of Section 29 on non-conventional fuels, the production tax credit for advanced nuclear technology, and clean coal. Last week, the House leadership said the Iowa green design project alone is holding up the whole bill. That wasn’t the case last week and isn’t the case this week. The House leadership received bad information. There are five green design projects -- one each for Georgia, New York, Louisiana, Colorado, and Iowa. Several members representing those states support their home-state projects. If the House insists onauthorizing only the four for-profit projects, and not the Iowa non-profit project, I’m willing torecede to the original House position of dropping them all. But authorizing all of the projects exceptfor the Iowa project, as the House wanted at one point, is wrong and unfair.

“Another important point is these five projects aren’t guaranteed this funding even if we passthis proposal into law. The proposal calls for the Treasury Department, in consultation with the Environmental Protection Agency, to designate which projects, if any, are eligible for the bondauthority based on the projects’ merits.

“A related point is there are a lot of unnamed House sources who claim to represent me andmy positions in these negotiations. Many of these so-called negotiating positions are news to me.I hope those who want my negotiating positions will get them from me.”