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February 26, 2008

Renewable Tax Bill Up for Vote This Week

Washington, D.C. [RenewableEnergyWorld.com]

Speaker of The U.S. House of Representatives Nancy Pelosi, House Majority Leader Steny Hoyer, and Ways and Means Committee Chairman Charles Rangel have released a statement on the Renewable Energy and Energy Conservation Tax of 2008 (H.R. 5351), which will be voted on in the House this week.

"The bill extends and expands tax incentives for renewable electricity, energy and fuel, as well as for hybrid cars, and energy efficient homes, buildings, and appliances. It does not add to our deficit, but rather repeals $18 billion in tax subsidies for Big Oil companies."

--Statement from Pelosi, Hoyer and Rangel

H.R. 5351 will increase investment in clean, renewable energy and energy efficiency and will pay for that investment by repealing unnecessary tax breaks to traditional energy companies. It is similar to the Renewable Energy and Energy Conservation Tax Act (H.R. 2776) that passed the House as part of a bipartisan energy package in August 2007 but was stripped in order for the package to pass in the Senate.

"The bill extends and expands tax incentives for renewable electricity, energy and fuel, as well as for hybrid cars, and energy efficient homes, buildings, and appliances. It does not add to our deficit, but rather repeals $18 billion in tax subsidies for Big Oil companies. By strengthening our renewable energy sector, the bill will help create the next generation of good-paying, green collar jobs and bring down energy prices in the long term,” the statement said.

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Reader Comments (6)
 
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February 27, 2008
Alfred,   Republican and Gulf State Democratic Senators.
Comment 1 of 6
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February 27, 2008
So, let's vote out the polititions who are holding us back. That is our responsibility, right? We need to consult a good information source that describes the voting history of all our elected officials with respect to renewable energy versus fossil based energy policies. This will inform us how to vote out the problem polititions.
Comment 2 of 6
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February 27, 2008
I have in the past been a member of the "Vast Right-Wing Conspiracy", so beloved by Sen Clinton. On the issue of energy, however, I very reluctantly find myself agreeing with the other side, because of the simple fact that we need an energy policy that benefits our national security rather than the oil companies. I agree that "W" has favored big oil at the expense of our citizens. On the other hand, without a veto-proof congress, this bill is little more than grandstanding. We are all being held hostage by politicians.
Comment 3 of 6
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February 27, 2008
I have a small Plumbing & Heating Co. In Central MA. I would it's  direction to focus on efficiency and renewables. The technology is here and so is the need. The economy, and fear of our upcoming short term economic future is holding back the common blue collar homeowner from purchasing  high efficiency and renewable energy solutions.  Perhaps in articles like this one you may mention Big Oil companies estimated prophit for the last couple of years while our hard working middle class are eeking by. And of course we understand salarys of the upper heads of these major corps fall into the payroll catagory, thus making prophit not seem so inflated.     J.A
Comment 4 of 6
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February 28, 2008
We all know that the Senate version will again delete the part re: the big oil breaks or if it does pass through the Pres. will veto it as usual and again there won't be enough votes to override his veto.  It's the same old same old.
Comment 5 of 6
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February 28, 2008
Bob is approximately correct. Get a more concise rating of senators and reps at the League of Conservation Voters web site,  http://lcv.org/scorecard/ . For instance, the two Republican senators from Maine have excellent environmental voting records (Collins 100%, Snowe 80%).
Comment 6 of 6
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