Democratic Leadership Struggling to Move Forward with Renewable Tax Package

The Cunctator — Thu, 08 May 2008 17:08:00 -0500

On Wednesday, House leadership told reporters that they are having another go at an extension of the renewable and energy-efficiency tax credits that has been stalled since last year. From E&E News:

The House Ways and Means Committee will likely take up the new package next week and will bring it to the floor sometime before Memorial Day, Chairman Charles Rangel (D-N.Y.) told reporters yesterday. The renewable energy package will be part of a broader multibillion dollar package of “tax extenders” for various items that are set to expire this year.
“Before the Memorial Day break, we will be bringing to the floor a comprehensive energy tax package that promotes research and development and promotes efficiency,” House Speaker Nancy Pelosi (D-Calif.) said yesterday. “The resources are there, the motivation is real, and I think they have reached some level of agreement with the Senate,” she added.

Sen. Max Baucus, chair of the Senate Finance Committee, has included the renewable tax credits with a package that would also extend tax credits against the Alternative Minimum Tax, the Alternative Minimum Tax and Extenders Tax Relief Act of 2008 (S. 2886).

Neither effort provides funding mechanisms.

Hill Heat: Democratic Leadership Struggling to Move Forward with Renewable Tax Package

Democratic Leadership Struggling to Move Forward with Renewable Tax Package