House Democrats make another push for renewable-energy credits
Democrats in the House of Representatives have introduced legislation that would extend renewable-energy incentives, which were booted out of both the recent energy bill and the economic stimulus bill. The House legislation would provide tax breaks for investments in energy efficiency and solar, wind, and geothermal power, at an expected cost of $17.5 billion over 10 years. It would be financed mostly by repealing some $13.6 billion in tax breaks currently enjoyed by crazy-rich oil and gas companies. The House legislation passed committee on Tuesday, but likely won’t be taken up by the full chamber until next week. There’s reason to hustle: Some current clean-energy incentives will expire at the end of this year if not renewed.