Tax Incentives for Renewables Restored in Bailout Bill.

[irishbobcat]

Tax Incentives for Renewables Restored in Bailout Bill.

October 7, 2008

By Jim Abrams, AP, October 4, 2008. "Millions of taxpayers, thousands of businesses and groups as diverse as solar power developers and natural disaster victims will see tax relief with the House vote Friday to approve and send to the president a $700 billion financial rescue plan. The tax relief package attached to the rescue bill promotes renewable energy development and extends dozens of tax breaks from the critical research and development tax credit to breaks for such narrowly focused groups as motor sports racetrack owners, film producers and bicycle commuters... The renewable energy incentives include an eight-year extension of investment credits for solar energy, as well as breaks for wind, geothermal and other alternative sources. The solar industry says extension of the credits through 2016 would produce an extra 440,000 jobs and more than $230 billion in investments."

As the Green Party Candidate for Congress, this is the type of Green Bailout we need to get this county moving again in providing jobs for the poor, working and middle class in renewable alternative energy programs.

However, the bailout include billions of dollars in breaks for old-fashioned fossil-fuel processes such as liquefying coal and squeezing petroleum out of sand and rock, dirty coal processes our current Congressman Charlie Wilson has been paid over $18,000 by coal lobbyists since 2007 to support. Although House members were adamant that the overall tax provisions remain revenue-neutral, the add-ons will cost taxpayers more than $100 billion, according to the Congressional Budget Office. Thank Charlie Wilson for costing the taxpayers more money for this bailout.

ELECT!!!!
DENNIS SPISAK FOR CONGRESS
Green Party Candidate for Ohio's 6th District
The ONLY PROGRESSIVE CANDIDATE
Running against a Conservative Democrat and Republican!

Renewable Energy Green/Blue Collars Jobs
Single-Payer Affordable Healthcare
Solar Power/Wind Power/Geothermal Energy

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