H.R. 6049 is a bill that would extend the current tax credits consumers and businesses would receive for the installation of renewable energy generation systems (i.e. solar and wind generation systems) on their properties. It would do more but that’s the crux of the bill. The bill passed the House and went to the Senate for debate. It got all the way to the Senate floor where it is now languishing because the Republicans can’t seem to stomach the way the bill pays for these tax credit extensions. Originally, additional taxes on oil companies was proposed as a way to pay for the credits. But the Republicans balked at that and defeated the cloture motion to bring the bill to a vote.
The bill was then revised to draw its revenue by closing offshore loopholes that benefits hedge fund managers. And again, the Republicans couldn’t stomach it and blocked the cloture motion. It seems that the idea of “Pay as you go” government isn’t something the Republicans can accept. The New York Times hit the nail square on the head with their editorial on this one. I only hope the Republicans get their head hit just as hard in the ballot box in November.
2 comments
June 25, 2008 at 3:05 pm
fred limbocker
I am in support of the renewable energy tax credits and the other related items in HR 6049, label as such. Why do the other non-related items which double or triple the amount need to be included? Secondly, why does Senator Harry Reid keep voting nay along with the Republicans?
June 25, 2008 at 6:29 pm
idubrawsky
I missed that one about Harry Reid voting nay on the cloture vote and I can’t find any reason why he would do so except for the fact that he proposed the Clean Renewable Energy and Economic Development Act(CREEDA) last May (May of 2007 that is). Interestingly enough, when this bill came up for a cloture vote on June 10th, Senator Reid voted for cloture. I wonder what changed his mind.
As for the non-related items which bloat the bill (H.R. 6049) — it’s obscene but it’s stuff that gets constantly shoved into a bill in order to get support from other Senators and Representatives is all I could think. I would like to have seen cleaner (and leaner) legislation than this but unfortunately this is how Congress works.