Posted on 07/26/2005 9:25:15 AM PDT by Tumbleweed_Connection
House and Senate negotiators are awaiting completion of an $11.5 billion tax package before giving final approval to an sweeping compromise energy bill that Congress hopes to send to President Bush by week's end.
The conferees approved the non-tax measures early Tuesday in a session that lasted well past midnight, maneuvering through dozens of amendments, including one aimed at blunting China's attempt to purchase U.S. energy companies.
Throughout the negotiations, conference leaders took precautions to avoid provisions that might prompt a Senate filibuster, which they feared would doom energy legislation as it did two years ago.
But Sen. Pete Domenici, R-N.M., the Senate's chief negotiator, warned that a provision calling for an inventory of oil and gas resources in coastal waters — which conferees voted to keep in the bill — could prompt a filibuster attempt by Florida senators.
Still, he said, he's confident that will be overcome, although he said Senate approval might be delayed until Friday.
Congress has been thwarted repeatedly over the past four years in attempts to enact energy legislation, although Bush first called for a new national energy blueprint in 2001, only months after taking office.
With soaring gasoline and other energy prices, Bush challenged Congress to give him a bill before it begins its August recess. Even so, Bush and the lawmakers acknowledged the bill includes little, if anything, to reduce gasoline or other energy costs in the short term.
The broad legislation includes measures to spur construction of new nuclear power plants, promote ways to reduce pollution from coal and provides a boon to farmers by requiring refiners to double the use of corn-based ethanol in gasoline to 7.5 billion gallons a year by 2012.....
(Excerpt) Read more at sfgate.com ...
of course, it includes the usual pork-barrel vote buying geared towards the ethanol lobby.
"Screw the american driver! We've got votes to buy in iowa!!!"
Full of pork---the offshore drilling might not make it and ANWR has already been dropped....
I HOPE IT DOESN'T PASS!!!!
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