Renewable Energy Tax Credit Legislation

Wind- and solar-boosting folk are crossing their fingers that new Senate legislation will succeed in extending renewable-energy tax credits set to expire at the end of 2008. The Clean Energy Tax Stimulus Act is framed as an economic boon: "If both houses of Congress don't pass a bill and the president doesn't sign it into law soon, we will start to see as much as $20 billion of anticipated investment in 2008 delayed or cancelled and more than 100,000 jobs lost," warns cosponsor Maria Cantwell (D-Wash.). The bill has bipartisan support, in large part because, unlike previous failed legislation, it would not seek to fund clean-energy incentives by removing tax credits for oil companies.

Source: http://www.grist.org/