Washington, D.C. — The House of Representatives today passed a new energy bill loaded with billions of special interest provisions and pork barrel spending, according to Taxpayers for Common Sense, a non-partisan budget watchdog organization. The group also contended that the current 768 page, 5 inch thick bill will do very little to reduce energy prices or increase domestic energy production.

“There is no rhyme or reason to this legislation. It is a grab bag of subsidies, tax giveaways for almost every special interest in Washington,” said Aileen Roder, Program Director at Taxpayers for Common Sense. “This bill is fueled by pork.”

H.R. 6 – The Energy Policy Act of 2003 authorizes $46.7 billion in new spending and $18.7 billion in industry tax cuts. The legislation funds everything from nanotechnology research to a demonstration project to burn post-consumer carpeting in cement kilns.

This bill continues the time-honored congressional pastime of funding the research and development needs of the energy industry without demanding much in return. It included blitzkrieg of new federal research programs and a corporate accountant’s dream with $18.7 billion in major new tax breaks for big energy.

The group also criticized the bill for trying to spend more money on failed policies of the past. “Most of the bill provisions have been pushed by industry for years. It's no secret that energy lobbyists and their supporters will use every possible opportunity to slip coveted tax breaks and spending subsidies into federal legislation,” continued Roder.

The passage of this legislation follows recent news that our nation is currently suffering from the largest budget deficits in history. The White House is projecting a budget deficit of more than $300 billion, which does include the more than $75 billion for the cost of the Iraq war.

“The fuel gauge for the federal treasury is on empty and we cannot afford these massive giveaways to big energy,” continued Roder. “By propping up the energy industry with corporate welfare, the federal government is picking winners and losers in the marketplace.”

Some of the highlights of the bill:

• $10.9 billion in new subsidies and tax breaks for the oil & gas industry.
• $17.89 billion in new research programs.
• $3.219 billion for the nuclear power industry.
• $2.227 billion in spending and tax breaks in utilities.
• $1.925 billion in subsidies to build new “clean coal” facilities.