Credits Where Credits Are Due

News & Analysis
In the News Gristmill Blog Muckraker Podcast Features

Columns
Ask Umbra Victual Reality Weekly Recipes The Bottom Line From A to Green The Grist List

Support nonprofit, independent environmental journalism.
Donate to Grist.

ADVERTISING POLICY

[Advanced]

Tools: print | email | write to the editor | subscribe | RSS

House Democrats make another push for renewable-energy credits

Posted at 9:54 AM on 13 Feb 2008

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.

sources: Dow Jones, Associated Press

ADVERTISING POLICY

< Previous | Next >

Comments: (5 comments)

You are not logged in. Thus, you cannot post a comment. If you have a Gristmill account, log in below. If you don't have a Gristmill account, well, by all means go make one! Meet you back here in five.

Won't work...

...the current administration will not sign a bill that increases oil taxes, especially if that bill is a stand alone and not an add-on to a more viable piece of legislation.

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.

by Tasermons Partner at 10:36 AM on 13 Feb 2008

Democrats Never Do What's Needed

There's no chance of this bill being signed by Bush or probably even passing the Senate, as it would need a 60% majority in that chamber. If the Democrats really wanted to pass this, it would have been attached to something Bush and the Republicans really want, like war funding or this ridiculous "economic stimulus package."

by Wolverine at 8:08 PM on 13 Feb 2008

Tried the economic passage...

like war funding or this ridiculous "economic stimulus package."

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.

by Tasermons Partner at 8:16 PM on 13 Feb 2008

Not hopeful

I am employed in the commercial solar industry, and we are presently facing a very real and dramatic downturn in our prospects due to ITC uncertainty. My heart sinks at seeing that once again, the democrats seek to fund this tax package through doing battle with the most rich, powerful, and entrenched corporate entities in the nation. There has to be a better way. The cliched "definition of insanity" comes to mind, as they keep trying this route, but nothing has changed to make for a more positive outcome than the last 3 times it was attempted.

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.

by Alex 77 at 9:29 PM on 13 Feb 2008

Tasermons Partner

The fact that the Democrats, who hold a majority in both Houses, allowed this provision to be stripped from the economic package means that they didn't attach it in the end. The point is that they're almost as pro-corporate as the Republicans, but pretend to be anti-corporate in order to get the votes of the idiots who don't pay attention and have no idea of what's going on. Their priorities are protecting the status quo, both for their own lavish lifestyles and for their corporate masters who pay for those lavish lifestyles with bribes, er, I mean campaign contributions, not providing cleaner energy.

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.

by Wolverine at 2:52 PM on 14 Feb 2008

The comments of Grist users reflect the opinions of those individuals only, and do not necessarily reflect the viewpoints of Grist, its staff, its board members, their psychotherapists, or their aestheticians. Got it?