Bucking the Washington culture of gridlock and delay, Senate Energy and Natural Resources Committee Chairman Lisa Murkowski (R-AK) and Ranking Member Maria Cantwell (D-WA) reported bipartisan energy legislation out of their committee today. The Energy Policy Modernization Act of 2015 leverages U.S. energy strengths to deliver more economic opportunity to American families, farms and businesses.

When it comes to energy, it’s a whole new world. Gone are the days of gas lines and skyrocketing prices at the pump. Last year, the United States passed both Russia and Saudi Arabia to become the largest producer of oil and gas. At the same time, U.S. solar and wind power capacity has grown substantially in recent years, even as energy efficiency is reducing growth in the demand for energy.

But, while the world has changed, U.S. energy policy has remained stuck in the past. The last major rewrite of U.S. energy law was in 2005, and nothing has been changed since 2007. That’s why the new legislation championed by Sens. Murkowski and Cantwell is a game changer. Their bill promotes greater efficiency, encourages greater infrastructure investment, ensures a diverse supply of energy and wisely balances energy development with environmental stewardship.

America’s business leaders heartily endorse the Murkowski-Cantwell bill and look forward to working with the entire Congress to see that energy modernization legislation gets signed into law this year.