House Passes Renewable Energy Credits |
| New York Times - Feb 28, 2008 |
The House on Wednesday approved a bill to extend more than $17 billion in tax credits and other incentives to encourage the production of energy from solar, wind and other renewable sources, and to promote energy conservation. The bill would be financed by ending tax incentives for oil and natural gas producers.
Democratic leaders in the House hailed the legislation as a step toward energy independence and a moral victory for protecting the environment, by encouraging production of clean alternative fuels. But the White House threatened to veto the bill, saying it would be a mistake to increase the tax burden on American oil companies.
Similar legislation has failed to pass the Senate on three occasions over the last year, including an effort in December when the package of tax credits for renewable energy fell just one vote short of the 60 needed to advance it.
Read Full Article from New York Times
- Posted: 2008-02-28 10:02:56
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