Energy

Obama Passed Legislation Creating A Tax Credit For The Installation Of E-85 Fuel Pumps.

In 2005, Obama introduced legislation that provided a tax credit for up to 50% of the cost of installing an E-85 pump. Obama passed the tax credit as an amendment to the 2005 transportation bill. The amendment was not included in the final version of the bill but was signed into law as part of the Energy Policy Act of 2005. The AP reported, "Under the provision, gas stations would get a tax credit to install equipment accommodating E-85 - an ethanol-based fuel alternative that its promoters say is up to 50 cents cheaper per gallon than unleaded gasoline. The credit would cover 30 percent of the installation costs at a given station up to $30,000...Freshman Sen. Barack Obama introduced the tax-credit measure in the Senate in the spring, and it was co-sponsored by Illinois' other Democratic senator, Dick Durbin. Obama also worked for the credit's inclusion in the energy bill as one of the conferees preparing the Senate-House conference committee report..." [AP, 7/27/05; H.R. 6, Became Public Law No: 109-58; S. 918, 109th Congress; SA 670 agreed to, 5/12/05; H.R. 6, Became Public Law No: 109-58; S. 918, Referred to the Committee On Environment and Public Works]

Obama Passed An Amendment Into Law To Fund Research For Hybrid/Flex Fuel Vehicles.

In 2005, Obama sponsored an amendment, which was signed into law, to the Energy Policy Act that established an applied research program to improve technologies for the commercialization of a combination hybrid/flexible fuel vehicle; or a plug-in hybrid/flexible fuel vehicle. The program would provide grants with preference to proposals that achieve the greatest reduction in miles per gallon of petroleum fuel consumption, achieve not less than 250 miles per gallon of petroleum fuel consumption and have the greatest potential of commercialization to the general public within 5 years. [SA 851 to HR 6, Passed by Unanimous Consent, 6/23/05; H.R. 6, Became Public Law No: 109-58]