DeStefano's Energy Plan Taxes Generators

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DeStefano's Energy Plan Taxes Generators

Keith Phaneuf, Journal-Inquirer May 12, 2006
HARTFORD - Democratic gubernatorial contender John DeStefano Jr. unveiled an energy plan Thursday that calls for a new tax on generators to help lower consumer rates by about 8 percent next year.

The New Haven mayor's plan also calls for expanded investments in energy research, state aid for energy projects that create new jobs, and a halt to additional pipelines and cables in Long Island Sound.

"Soaring energy costs are an increasing burden to our families and businesses, but incredibly, Governor Rell has no strategy to deal with this," DeStefano said during a mid-day news conference held at the Shell station across Capitol Avenue from the Legislative Office Building.

DeStefano called for a "windfall profits tax" on the state's electricity generators, which he expects would raise up to $450 million annually.

Three power plants in the state, fueled by coal or nuclear materials, generate about half the power produced in Connecticut. These plants, in Bridgeport and Waterford, are earning huge profits because of rising energy market prices, particularly paid to those operations not reliant on oil or natural gas.

Of that $450 million, DeStefano would use $300 million to provide energy rebates to consumers next year, and $100 million to support clean and efficient energy research and development of energy-efficient companies.

Another $40 million would fund credits to help businesses lower energy costs.

DeStefano says he believes these steps would help create about 75,000 new jobs by 2015.

Other components of his plan include:
* Dedicating $200 million to support a new energy science center at the University of Connecticut.
* Allowing motorists who drive fuel-efficient hybrid vehicles to use high-occupancy vehicle lanes.
* Supporting environmental standards to reduce carbon dioxide greenhouse gas emissions by 3.5 million tons
Rell's campaign spokesman, Rich Harris, responded today that DeStefano's criticism of the governor is "divorced from reality."

Rell proposed a 25 percent cut in the public utilities tax this year, fought for additional federal energy funding, and has clashed with the Bush administration for a tougher ethanol tariff, Harris said.

The campaign spokesman added that DeStefano's proposed tax would hurt the state's business climate and job growth efforts. "There doesn't seem to be an issue in Connecticut that John DeStefano isn't willing to resolve with titantic tax increases," he said.