House OKs renewable energy tax credits

(Photo of windfarm from Flickr and photographer Alessandro Ronchi)

Congressional Round-up: The House voted 236-182 Wednesday to approve renewable energy tax credit extensions, funding them by eliminating tax breaks for 5 big oil companies. This is the fourth time they approved such a bill in the past year. Now comes the hard part. A similar bill has failed to get the 60 votes needed in the Senate to avoid a filibuster. That is likely again, though one tactic under discussion is to try to get some of the package included in the final budget reconciliation bill. The extensions are needed because current ones expire at the end of 2008, and already investment in renewables is slowing down. House Speaker Nancy Pelosi (D-Calif.) warned that a failure to extend the credits could cost the country 116,000 jobs. The Senate could bring up the bill as soon as next week. The House bill (H.R. 5351) provides:
• A 3-year extension on investment credits for wind, geothermal and other renewables.
• An 8-year extension of incentives for commercial solar energy and 6 years for residential, doubling the top credit for homeowners to $4,000.
• Incentives for plug-in hybrids, energy efficiency and installation of pumps for fuel with 85% ethanol.
The GOP and White House object to rescinding $13.6 billion in tax cuts for integrated oil companies. They say it will thwart exploration and raise prices for consumers. Dems said with oil over $100 a barrel, the 5 companies affected are making record profits and will lose less than 2% of those profits in the next 10 years. Call your Senators to approve this bill at (202)224-3121. Also, check to see how your Rep voted. (Sources: Washington Post, E&E Daily, E&E News PM, Sierra Club)

McCain nets zero on environment from Conservation Voters
Many see Sen. John McCain (R-Ariz.), the presumptive GOP nominee for president, as pro-environment. The League of Conservation Voters disagrees. McCain scored the lowest possible grade, a zero, on LCV’s 2007 Scorecard. Democratic contenders Sen. Hillary Clinton (D-N.Y.) came in at 73, and Sen. Barack Obama (D-Ill.) at 67. McCain, who introduced global warming legislation back before it was popular, has twice failed to show up for a vote on renewable tax credit extensions, where his vote could have made the difference. LCV says it’s a pattern and he missed all critical environmental votes last year. His lifetime score is 24. To see how your elected representatives scored, check the LCV scorecard. (Sources: Sierra Club, LCV)