Date: January 27, 2009
Source: News Room
The US Senate Finance Committee approved an economic stimulus tax bill that would extend and expand tax credits for renewable energy on the same day that President Barack Obama visited Congress to drum up Republican support for the bill. The Finance Committee voted 13-6 to report the $275 billion package to the full Senate. It includes approximately $34 billion for renewable energy, transmission, efficiency and storage and the measure would extend the existing tax credits for renewable energy, and create two new ones for manufacturing and research and development. Production tax credits would be extended through 2013 in the case of geothermal, biomass and other renewable industries.
An additional $1.6 billion in direct funding would also be provided for facilities that generate electricity from renewable resources.
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