Renewable Energy Tax Credit Extension Vote Fails in U.S. Senate

[JohnWxy]

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=115x156847

"The longer these extensions are delayed, the more workers are shed and renewable energy projects are undermined."

-- Scott Sklar, President, The Stella Group


go to www.congress.org to tell your senators to get this bill moving.


http://www.heraldnews.com/opinions/x390615159/LETTER-Ectend-clean-energy-tax-credits-06-23-08

The Herald News
Posted Jun 23, 2008 @ 12:00 AM

--------------------------------------------------------------------------------
For the past six months, Congress has been debating how to pay for expiring clean energy tax incentives. These incentives are bringing down the cost of installing, building and manufacturing the renewable energy systems and energy-efficient products our nation so desperately needs. If these incentives expire in December, more than 116,000 jobs in the wind and solar industries are placed at risk next year.

In late May, the House of Representatives passed another tax package, HR 6049, which should win bipartisan support in the Senate this week. Sadly, President Bush already threatened to veto this bill, and just this week Senate Republicans blocked the bill from being voted on.

This bill, HR 6049, includes an $18 billion package of renewable energy and energy-efficiency tax credits that would be paid for by postponing an obscure tax break for corporations with foreign operations that was supposed to take effect next year, and by cracking down on hedge-fund managers who are currently able to avoid billions of dollars in taxes by diverting money to offshore havens.

Thus, in exchange for closing wasteful tax loopholes that would stop an unchecked gravy train for select, wealthy taxpayers, our nation will continue to enjoy clean energy tax incentives that benefit all Americans by creating local jobs in green energy fields, enhancing our energy security and helping us fight global warming. That sounds like a trade-off all wise politicians would support.

I call upon our leaders in Washington to think seriously about our energy future and immediately extend these clean energy tax incentives.

David Jabbour
Westport