|
|
 |
|
|
|
|
|
|
  |
 |
|
Contact: Gordon Smith Press Office
Phone: 202-224-3753 |
 |
|
| |
Green Tax Credits Will Help Consumers See Affordable Light
Bipartisan group of senators push to reduce energy costs and spur investment in clean energy |
| |
April 8th, 2008 - Washington, D.C. - As energy prices continue to skyrocket and family budgets remain tight, Oregon Senator Gordon Smith has teamed up with a bipartisan group of senators to introduce legislation that would encourage the growth of renewable energies, create jobs and save American families money. According to the Department of Energy, natural gas prices in Oregon have increased by 35 percent in the last four years and electric rates have gone up 10 percent in the last year. The Clean Energy Tax Stimulus Act of 2008 would create approximately $20 billion of investment to expand clean energy production and improve its efficiency.
“Whether it’s wind or geothermal from Eastern Oregon, wave energy from the Oregon Coast or biomass from the forest, the energy of our future can be found right here in Oregon,” said Smith. “These tax credits will produce thousands of jobs and move us down the path of clean renewable energy.”
The bill, co-authored by Senators Maria Cantwell (D-WA) and John Ensign (R-NV), would extend several energy tax incentives and credits, including production tax credits for investment in wind energy, biomass, hydropower and geothermal electricity facilities. Businesses who install solar and fuel cell equipment would get investment tax credits, as would homeowners who make qualifying energy efficient investments. The legislation also includes $400 million for Clean Renewable Energy bonds.
Current energy tax credits are set to expire by the end of this year. Without the timely extension of these tax credits, renewable energy investment and projects could severely decline. The Clean Energy Tax Stimulus Act of 2008 is currently part of the housing stimulus bill being debated on the Senate floor. Final vote on the bill is expected later this week.
###
|
|
|
|
|
|
|
|
