Democratic Leadership Struggling to Move Forward with Renewable Tax Package 4

Posted by Brad Johnson Thu, 08 May 2008 21:08:00 GMT

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.