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Recent Press Releases

Funding the Troops in Combat, and When They Return

June 30, 2008



‘These funds, coupled with an updated GI Bill for our veterans will help our troops while in combat, and when they return home to their families’



WASHINGTON, D.C. - U.S. Senate Republican Leader Mitch McConnell made the following statement Monday after the President signed the war supplemental funding bill which funds our troops in the field through next spring:



“The supplemental spending request that was sent to Congress last year by the President was unambiguous: the funds were to be spent on our forces in the field, on the men and women fighting in Afghanistan and Iraq. Though it took more than 500 days for the new Congress to get it done, the combat forces serving in Iraq and Afghanistan will now have sufficient funding to carry out their missions through next spring. These funds, coupled with an updated GI Bill for our veterans will help our troops while in combat, and when they return home to their families.”



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A GI Bill for the Military of the 21st Century

June 27, 2008



“A modernized GI Bill is the best way to honor our commitments to those who risked everything by putting on their country’s uniform”



Washington, D.C. -- U.S. Senate Republican Leader Mitch McConnell commended the Senate Friday for passing the GI Bill, which includes a provision to provide transferability of education benefits from a member of our Armed Forces to their spouse or child. Senator McConnell strongly supported the provision, which was included in the Supplemental Appropriations bill that passed the Senate late Thursday.



“Higher-education costs have risen sharply, and GI Bill benefits haven’t kept up. The men and women in uniform who have bravely stepped forward to defend our country deserve more,” McConnell said. “This legislation gives the members of our Armed Forces the ability to transfer their educational benefits to a spouse or child.”



According to the most senior enlisted member in each service, the transferability of education benefits is one of the most requested benefits by men and women in uniform. The provision supports not just members of the military but also military families. A service member who may not want to pursue higher education could continue to serve, knowing that his GI Bill benefits will benefit a son or daughter when they go to college. Or a spouse could go back to school and start a new career.



“A modernized GI Bill is the best way to honor our commitments to those who risked everything by putting on their country’s uniform. It helps not just the individual soldier, sailor, airman or Marine, but all of us, as we gain a better educated and more successful citizenry,” McConnell said.



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Senator McConnell Introduces Energy Legislation to Address the High Price of Gas

June 26, 2008

We must expand our domestic energy production and limit the hold Middle Eastern nations have on our economy



Washington, DC – U.S. Senate Republican Leader Mitch McConnell introduced the Gas Price Reduction Act of 2008 on Thursday to address the high price of gas at the pump and provide a balanced approach to America’s long-term energy needs. The legislation, which has a total of 43 cosponsors, is a result of efforts by Senate Republicans to intensify the legislative debate and provide a vehicle for bipartisan action addressing high gas prices.



“The Gas Price Reduction Act uses a three-pronged approach -- conservation, innovation for newer technologies, and expanded exploration of our domestic resources -- to solve America’s energy crisis,” McConnell said. “This legislation also would create thousands of jobs and help get prices down at the gas pump. We must expand our domestic energy production and limit the hold Middle Eastern nations have on our economy.



“The United States is the third-largest producer of oil in the world after the Saudis and the Russians. While we must work now to reduce our dependence on fossil fuels, if we truly want to achieve energy independence, America must be allowed to take advantage of the vast energy resources we have right here at home.”



THE GAS PRICE REDUCTION ACT OF 2008



TITLE I – DEEP SEA EXPLORATION (OCS)





14 billion barrels on Atlantic and Pacific OCS – More than all US imports from Persian Gulf countries over the last 15 years



• State Option Nationwide (except Gulf of Mexico)

• Governor petitions to allow exploration, with concurrence of state legislature



• Exploration must be at least 50 miles from coast



• 50% of revenues to Federal Treasury, 37.5% to States, 12.5% to Land & Water Conservation Fund





TITLE II: WESTERN STATE OIL SHALE EXPLORATION



More than 3 times the oil reserves of Saudi Arabia

• 800 billion - 2 trillion potentially recoverable barrels in Colorado, Utah, Wyoming



• Democrat Congress put moratorium on final regulations for development of this resource



• Republican proposal would repeal the moratorium and allow exploration to move forward



TITLE III: PLUG-IN ELECTRIC CARS AND TRUCKS



• We need better batteries to maximize electricity range & use less gas

• Increased R&D for advanced batteries



• Direct Loans for advanced battery manufacturing facilities

• Sense of Senate that the Federal Government should increase its purchases of these vehicles





TITLE IV: STRENGTHENING U.S. FUTURES MARKETS



• Authorizes increased funding/staff for Commodity Futures Trading Commission (CFTC)



• Directs the President’s Working Group on Financial Markets to study the international regulation of commodities markets

• Codifies CFTC action on position limits and transparency for foreign boards of trade



• Requires the CFTC to gather information on index traders and swap dealers





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