New Direction for Energy Independence, National Security, and Consumer Protection Act and the Renewable Energy and Energy Conservation Tax Act of 2007

Floor Speech

NEW DIRECTION FOR ENERGY INDEPENDENCE, NATIONAL SECURITY, AND CONSUMER PROTECTION ACT AND THE RENEWABLE ENERGY AND ENERGY CONSERVATION TAX ACT OF 2007 -- (Senate - April 04, 2008)

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Mr. WICKER. Mr. President, I thank the Senator from Louisiana for yielding me an opportunity to speak. This is an example of how those in Government can work together to help citizens who have been disadvantaged by a storm, where Members can work together in a bipartisan manner.

The Senator from Louisiana will be able to explain briefly the base amendment she offered. I simply want to thank her for agreeing to incorporate two very important amendments into hers. One is with regard to the bonus depreciation piece of the Gulf Opportunity Zone Act, known in shorthand as the GO-Zone. Because of bureaucratic delays, and because of the magnitude of Hurricane Katrina, people who wish to take the opportunity of the GO-Zone bonus depreciation have not been able to commence construction. The Wicker-Cochran amendment, which the Senator has agreed to incorporate into her amendment, would move the commencement date of GO-Zone construction.

The Senator from Louisiana has also graciously agreed to add a Brownback-Roberts amendment that will help the small town of Greensburg, KS, which was completely devastated in a storm recently. I urge all Senators to vote in favor of this simple change in the date on bonus depreciation.

I thank the Senator from Louisiana.

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