Washington, D.C. — As the full Senate and House prepare to debate their budget resolutions for fiscal year 2014 that reflect diametrically opposed visions of American’s energy and climate futures, the Center for American Progress today released “The Clean Murray Budget Versus the Dirty Ryan Budget.” The Senate budget, authored by Senate Budget Committee Chair Patty Murray (D-WA), invests in clean energy technologies that reduce carbon pollution responsible for climate change while the House budget, written by House Budget Committee Chair Paul Ryan (R-WI), ignores climate change and defunds clean energy technologies.
Sen. Murray’s proposed Senate budget resolution, “Foundation for Growth: Restoring the Promise of American Opportunity,” would propel the United States into the 21st century economy by investing in the clean energy industry, which will be a $1.9 trillion market this decade. In addition to immediate job growth, the Senate resolution would responsibly pursue deficit reduction and attack the carbon pollution that is responsible for climate change by investing $50 billion in our nation’s roads and public transit systems.
Meanwhile, the House budget resolution, “The Path to Prosperity: A Responsible, Balanced Budget,” written by Rep. Ryan, would continue investment in the dirty fossil fuels of the past while disinvesting in clean energy. It ignores the looming disruptive and expensive threat of climate change by increasing carbon pollution through the slashing of investments in transportation below current levels and approving the Keystone XL pipeline. The Keystone XL pipeline would facilitate the production of millions of barrels of tar sands oil, which yields up to 80 percent more carbon pollution during its production—well to tank—than conventional oil, while only creating 35 permanent jobs.
The Murray budget does not explicitly require the elimination of billions of dollars in special tax breaks for Big Oil companies. But it does call for ending loopholes for “corporations who need them the least” and “companies reporting record-breaking profits.” As with his past budgets, however, Rep. Ryan’s FY 2014 budget appears to keep a decade’s worth of tax breaks worth $40 billion for the oil and gas industry. Even more astounding, the budget would give the five largest oil companies an additional multibillion-dollar tax cut by slashing the corporate income tax rate by one-third.
The Senate and House budget proposals have many differences—particularly in their energy plans. Sen. Murray’s budget would reduce our nation’s oil dependence while investing in the clean energy technologies of the future, all of which will create jobs. Rep. Ryan’s budget, however, would increase our nation’s oil dependence while ceding the world clean energy market to China, Germany, and other competitors. And his plan would cost American jobs, too. There is only one choice that enhances our future.
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