Brown campaign sets eyes on $100B energy plan
August 19, 2008
Fourth Congressional District candidate Charlie Brown has released a six-point energy plan that calls for spending $100 billion over seven years to develop alternate sources of power.
The plan also would close tax loopholes for oil companies, which the Democrat said would generate $18 billion a year for incentives for companies to develop renewable sources of energy. It would give consumers a $5,000 tax credit for purchasing hybrid cars or solar panels.
“This proposal is not a sound-bite-driven Band-Aid,” Brown said in a statement. “It’s a comprehensive solution that will give hope and relief for those who are hurting today.”
Brown, a retired Air Force pilot who lives in Roseville, and Tom McClintock, a Republican state senator from Thousand Oaks, are running to replace Rep. John Doolittle as the district’s representative in Congress.
McClintock said that Brown is “simply copying Nancy Pelosi’s plan, and that shows he is walking in lock step with the left.”
The state senator said he opposes tax subsidies for wind and solar energy, supports off-shore drilling and hydroelectric projects such as the Auburn Dam, and he wants to see the private sector unshackled. He also said eliminating tax loopholes will mean greater costs for consumers.
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“Government needs to get out of the way so we can develop one trillion barrels of proven reserves under our soil,” McClintock said.
In Brown’s plan, the $100 billion to “jump start” the renewable energy market would come from money the federal government now spends for energy, according to the proposal. Brown said he would like to divert $14.5 billion a year for the next seven years to raise the $100 billion.
Overall, Brown’s plan seeks to speed up the development of alternative fuels, including nuclear power, while calling for more drilling on federal land now leased to oil companies. He also wants to see oil companies build more refineries.
The details of the Brown plan are as follows:
” Drill on the 80 percent of federal land that is leased for drilling but currently not being used.
” A $100 billion “Apollo” project to move the federal government toward energy independence in the next seven years and jump start the renewable energy market.
” Open the strategic petroleum reserves to immediately increase the supply of oil.
” Build additional refineries to increase America’s capacity to produce gasoline.
” Close tax loopholes for oil companies and use that $18 billion to increase and make permanent tax incentives for research and development in renewable energy.
” Increase the federal tax credit for investment in renewable energy products (such as solar panels for home energy or hybrid vehicles) to $5,000.