Statement of Hon. Louise M. Slaughter, a Representative in Congress from the State of New York

Mr. Chairman and Members of the Committee, I appreciate the opportunity to highlight

my concern with the high heating prices my constituents are paying right now to stay warm. As we know, the price of natural gas has risen 40 percent to 70 percent over the past year.

Last winter, we had a heating oil crisis in the Northeast region. In response to the spike in home heating oil prices, I introduced bipartisan legislation last year that would have given homeowners tax credits to convert from heating oil to natural oil or renewable energy. While that was aimed to address our nation's dependence on foreign oil, the current prices consumers are paying for natural gas indicate that more vision is needed to solve our country's energy crisis.

What is the solution? Spring is right around the corner, and hopefully the warm weather will accompany lower energy bills. But for how long? Citizens in California are expected to face power outages again this summer due to people using their air conditioners.

One thing this committee can do within its jurisdiction is to permanently extend renewable tax credits. For example, the Energy Tax Act of 1978 (P.L. 95-618) created residential solar credits and the residential and business credits for wind energy installations, but it expired on December 31, 1985. This law should be renewed.

I appreciate your time and consideration. I look forward to working with this committee in the future on these issues.