Bush signs huge energy bill into law

Bush signs huge energy bill into law

[JURIST] President George W. Bush Monday signed into law a massive energy bill while in Albuquerque, New Mexico. The 1,725-page legislation [text], finalized after weeks of compromise between the US House [JURIST report] and Senate [JURIST report], provides $14.5 billion in energy tax breaks, mostly to companies who deal in traditional sources of energy. It also provides funds for promoting renewable energy sources and creating new technologies, measures to aid the nuclear power industry and a provision effective 2007 to extend daylight savings time by one month (starting it three weeks early on the second Sunday in March, and extending it by one extra week to the first Sunday in November). Bush said the bill will not "solve our energy challenges overnight," but added that it "launches an energy strategy for the 21st century" and promotes finding new sources of energy to power the country. Read a transcript of the President's remarks at the bill-signing and a White House factsheet on the legislation. AP has more.