Democrats in the House of Representatives have introduced legislation that would extend renewable-energy incentives, which were booted out of both the recent energy bill and the economic stimulus bill. The House legislation would provide tax breaks for investments in energy efficiency and solar, wind, and geothermal power, at an expected cost of $17.5 billion over 10 years. It would be financed mostly by repealing some $13.6 billion in tax breaks currently enjoyed by crazy-rich oil and gas companies. The House legislation passed committee on Tuesday, but likely won't be taken up by the full chamber until next week. There's reason to hustle: Some current clean-energy incentives will expire at the end of this year if not renewed.
source: Dow Jones, Associated Press
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Tasermons Partner Posted 3:36 am
13 Feb 2008
If they want to pass the energy credits this year, they'll haveta do it with other funding sources, and they'll probably haveta sneak it into another bill that has wide bipart support.
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Wolverine Posted 1:08 pm
13 Feb 2008
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Tasermons Partner Posted 1:16 pm
13 Feb 2008
Well, they did try to attach it to the economic package, actually. But it was stripped later under opposition...which mean even the chances of the credits gettin' passed when attached to another bill would be hard.
I agree with the war spending idea though. The republicans are gettin' more leery of it, but they still pass the war bills through with little resistance and usually with major non-war related earmarks. This could certainly apply.
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Alex 77 Posted 2:29 pm
13 Feb 2008
What it leaves me thinking is that this is being done by the dems to placate our desire for effort, but knowing that this effort will not translate into success.
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Wolverine Posted 7:52 am
14 Feb 2008
You can't blame the Republicans in Congress for anything right now, except for filibusters in the Senate. The Democrats have majorities and are the ones to blame for not standing for what they supposedly believe in.
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