Biden Will Veto GOP Energy Bill If Presented In Current Form

The White House has released a statement of administration policy (SAP) stating that if House Republicans present their Lower Energy Costs Act (H.R. 1) to President Joe Biden in its current form, then the president would veto the legislation. Full statement: https://www.whitehouse.gov/wp-content/uploads/2023... States that "The Administration wants to work in bipartisan manner with Congress to address lowering energy costs, permitting reform, and addressing energy challenges. However, H.R. 1 would take us backward."

• Given the razor-thin Republican majority in the House, every vote will prove crucial in even getting the legislation - intended to boost fossil fuel production and bring down energy costs - across the line.
• Even if the bill gets through the House - potentially with the backing of some moderate 'blue dog' Democrats - the wide-ranging nature of the legislation means it is unlikely to get through the Senate. Majority leader Chuck Schumer (D-NY) has called the package a “nonstarter” and that it amounts to“a wish list for Big Oil, gutting important environmental safeguards.”