Washington, DC - In response to recent action by the U.S. Senate, Ways and Means Committee Chairman Charles B. Rangel today introduced H.R. 6049, the Renewable Energy and Job Creation Tax Act of 2008. This bill would amend Senate-passed legislation to ensure that tax incentives provided to encourage renewable energy and energy conservation fit within the scope of the offsets approved by the Senate.
“Tonight, the U.S. Senate finally approved a package of energy tax provisions and offsets to help establish America’s energy independence and reduce our dependency on foreign oil," said Chairman Rangel. “Sadly, they did not live within their means, and their bill would add billions to the national deficit at a time when we can hardly afford it. The House will soon consider, and pass legislation providing the Senate with an opportunity to pass and help enact these tax incentives, fully offset by the provisions they have already blessed. This vote should be a no-brainer for the Senators already on record supporting these provisions."
A more detailed summary of the provisions is included below. The bill is ready for consideration by the House of Representatives as early as Wednesday, September 24.
