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.

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