Word: domenici
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Dates: during 2000-2009
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...which are strongly opposed by the auto industry. But it calls for market-based legislation such as a "cap-and-trade" bill to curb overall emissions similar to the measures in the controversial Kyoto treaty. Federal cap-and-trade legislation is now being drafted by New Mexico senators Pete Domenici (R) and Jeff Bingaman...
...upheaval could be alleviated significantly if the government had a long-range policy for moving beyond oil. But no Administration or Congress in the past 25 years has put one together because such a move would involve spending money and offending powerful interest groups. Republican Senator Pete Domenici of New Mexico, chairman of the Energy and Natural Resources Committee, astonished environmentalists last month when he suggested that federally mandated auto-mileage (CAFE) standards had to be reconsidered. But because that could cut into automakers' profits, there's virtually no chance that such legislation would pass. Tax incentives for switching...
...shortfall this year, Reagan will be forced by Gramm-Rudman to order cuts totaling some $11.7 billion, half from defense and half from civilian spending that has not been specifically exempted. These reductions, known in federalese as sequestrations, will take effect March 1. Says Senate Budget Committee Chairman Pete Domenici: "It's going to come as a shock to a lot of people who voted for this that there will be sequestering in March...
...least half of the budget effectively off limits to spending surgeons, even some Republicans in Congress believe that Reagan will have to compromise on this issue. As long as the President clings to his goals of a growing defense budget and protecting the safety-net social programs, says Domenici, "there will have to be some sort of tax enhancement." Possible candidates are a tax on oil imports, which would raise $25 billion over three years at the rate of $5 per bbl., and a business transfer tax, a levy similar to Europe's value-added tax, which would yield...
...sound like a pie-in-the-sky dream. But in fact, it is technologically possible. Green-car enthusiasts in California are experimenting with innovative plug-in technology, while DaimlerChrysler will soon be testing its own plug-in van. And ethanol has long been used as a fuel. Indeed, Domenici's committee last month adopted a measure in the energy bill requiring gasoline refiners to increase the ethanol they use each year to 8 billion gal. by 2012, up from 5 billion gal. mandated by the House...