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Support for Energy Policy Act of 2003 Dear Editor: The U.S. Congress is seriously considering a comprehensive energy bill with an emphasis on conservation, and this should be a comfort to every American. Sponsors of the Energy Policy Act of 2003, which is presently being debated in the U.S. Senate, have demonstrated leadership and vision in recognizing that effective energy policy is one of the...

10/10/2003


Support for Energy Policy Act of 2003

Dear Editor:

The U.S. Congress is seriously considering a comprehensive energy bill with an emphasis on conservation, and this should be a comfort to every American. Sponsors of the Energy Policy Act of 2003, which is presently being debated in the U.S. Senate, have demonstrated leadership and vision in recognizing that effective energy policy is one of the most important issues facing our nation. We strongly support the passage of this legislation as it includes many important initiatives, including:

  • Establishing new energy

  • conservation and cost reduction goals for public and private sectors

  • Increasing research and development of alternative and renewable energy sources

  • Updating the nation's outdated electricity laws to allow consumers to benefit from lower cost and more reliable electrical power supplies

  • Setting higher energy efficiency standards for new federal buildings and encouraging state government buildings to meet federal standards

  • Reauthorizing the Low Income Home Energy Assistance Program through 2006.

    • The Energy Policy Act of 2003 is rich with reasoned recommendations that will conserve energy. It also provides tax deductions and credits that will help businesses make investments in new energy-efficient products and technology. This is especially important as the manufacturing community continues its struggle toward recovery. Provisions contained in the President's recently passed tax bill provide even further incentive for such investments by increasing from 30% to 50% the first-year bonus depreciation of last year's economic stimulus bill.

      Spending on power generation over the next 20 yr will exceed the entire amount invested in the 20thCentury. This soaring demand and cost should be enough to make every American appreciate the need for conservation measures. The Energy Policy Act of 2003 is a major step toward balancing consumption with conservation. It recognizes that we can no longer take energy — in its many forms — for granted, if we wish to maintain the quality of life that we enjoy.

      Chris C. Richardson, Chairman, President, and CEO Schneider Electric, North American Operating Div., Palatine, IL; Chairman, Government Affairs Committee, NEMA



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