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For Immediate Release: Friday, September 26, 2008
Contact: Glen   Sears 2022252865 glen.sears@mail.house.gov

Moore Praises House Approval of Fully Paid For Tax Relief Bill

Legislation extends renewable energy incentives, provides tax relief to millions of American

(WASHINGTON, D.C.) – Congressman Dennis Moore (Third District-KS) issued the following statement following House approval of H.R. 7060, the Renewable Energy and Job Creation Tax Act of 2008.

“I am pleased the House continues to lead the way in approving fiscally responsible legislation, like this tax extenders bill that is fully paid for,” Moore said. “This bill advances our efforts to expand the use of clean, renewable and energy efficient resources, affording the opportunity for our children and grandchildren to inherit a better world. And in the meantime, there’s no reason Senate Republicans should pass the costs of the bill to the next generation. They have supported these non-controversial offsets before, and they should support them again to enact this critical bill into law.”

The Renewable Energy and Job Creation Tax would extend and expand tax incentives for renewable energy, create thousands of green jobs, encourage American innovation and cut taxes for millions of Americans. Specifically, this fully offset bill includes:

  • Extension of the investment tax credit (ITC) for solar energy;
  • Extension of the production tax credit (PTC) for energy derived from wind, biomass, geothermal,
  • hydropower and other natural resources;
  • Tax credits of $3,000 or more toward the purchase of fuel-efficient, plug-in hybrid vehicles;
  • Extension of the Research & Development (R&D) tax credit for thousands of American companies;
  • Expansion of the child tax credit to provide relief for families of 13 million children; and
  • Tax deductions for classroom expenses, state and local taxes, and tuition costs for millions of American families, students and teachers.
“With Americans anxious about our economy’s strength, I look forward to the Senate’s swift approval of this PAYGO-compliant tax extenders bill so we can expand renewable energy incentives that will make us less dependent on foreign oil, and provide immediate relief to American families and businesses,” continued Moore. “Approving this bill will create thousands of green jobs, spur business investment and provide tax relief for American families, and will do so responsibly.”

The Renewable Energy and Job Creation Tax Act was approved by a bipartisan vote of 257-166 on the House floor on Friday. H.R. 7060 awaits consideration in the Senate.

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