Washington, D.C. – Senate Energy Chairman Pete Domenici today announced that he has cosponsored the Gas Price Relief and Rebate Act of 2006, filed last night as an amendment to H.R. 4939, the Supplemental Appropriations bill. This bill helps to ease the burden on consumers from high oil and gas prices, continues to develop and diversify our domestic fuel supply, and reduces our dependence on foreign oil. 

Chairman Domenici’s statement:

“I am pleased to cosponsor the Gas Price Relief and Rebate Act of 2006.  I think this package does everything possible in the short-term to ease the burden on consumers and bring down gasoline prices. I am particularly pleased that we are easing the burden on American families by providing them with a $100 rebate to help offset the pain they are feeling at the pump.

“Like all of us, I spent a lot of time with my constituents during the recent district work period. I was troubled to hear stories of families having to cut items from their family budgets in order to fill their cars.  I hope this tax rebate will make a difference for hard-working American families.

“I am also pleased that we are giving the Administration new authority to raise CAFE standards on passenger vehicles. This bill increases energy production but I have always said that new production measures must be matched with new conservation efforts. We do that with this CAFE provision.  I encourage the Secretary of Transportation to use this new authority to help stabilize gas prices over the long haul.

“I am pleased that we have incorporated the President’s Advanced Energy Initiative in this bill. The initiative builds on the work of last year’s bipartisan energy bill to wean America off foreign oil. We draw from the President’s proposal in this bill to authorize $1.1 billion for research for new sources of ethanol such as switch grass and soy. We invest more money in biorefinery research so we can make the refining of ethanol more affordable. This in turn, will increase our supply of homegrown renewable fuels at the gas pump. We also authorize $1.8 billion for hybrid vehicle research. This investment will make hybrid cars even more fuel efficient and their battery life longer than it is today.

 “I think this is a bold bill that does everything possible to increase our supply and ease the burden on consumers. I’m pleased to work with leadership in writing this bill and taking it to the floor.”