S.Amdt. 2807

Mr. Markey submitted amendment SA 2807 to hold things in check for hardworking folks and make sure our energy costs don't get out of hand. The purpose of this amendment is to ensure that electricity prices do not substantially increase.

Specifically, it requires the Secretary of Energy to check every year—starting on January 1 of the first calendar year after the Act is enacted—whether certain amendments in the bill have caused the average national electricity price to jump by more than 3 percent annually. This determination will be based on information provided by the Energy Information Administration.

If the Secretary of Energy finds that the electricity price has gone up by more than 3 percent due to those specific sections of the bill, the amendment calls for a sunset. This means:

• The applicable amendments will be completely repealed, acting as if they never happened in the Internal Revenue Code of 1986.
• Any termination provision under those repealed sections will instead refer to the date when the Secretary of Energy figures out that the annual increase in the average national electricity price is less than 3 percent.