tax breaks & incentives
Aug
In a Saturday surge before the August recess, the House of Representatives passed energy bills that would provide tax incentives to spur development of renewable energy, while repealing nearly $16 billion in tax breaks for oil companies.
According to coverage in the New York Times, if this legislation is enacted:
Americans will soon light their houses differently. The bill outlaws the sale of 100-watt incandescent light bulbs by 2012 and requires that all bulbs be 300 times more efficient than today’s ordinary bulbs by 2020.
The most glaring omission from the House energy bill concerns Corporate Average Fuel Economy (CAFE) standards.
The 786-page House energy bill does not include an increase in fuel-efficiency standards for cars and light trucks that supporters called the single most effective way of cutting oil consumption and reducing emissions of greenhouse gases. Sponsors vowed to bring it up again when Congress reconvenes in September.
The Senate passed energy legislation in June with numerous differences from the House package. The Senate version requires that cars and light trucks sold in the United States achieve a fleet average of 35 miles per gallon by 2020.
Next steps will include attempts to reconcile the Senate and House energy bills, even though President Bush has already expressed his opposition
saying they did not meet their stated goals of reducing oil imports, strengthening national security, lowering energy prices and beginning to address global warming. The White House also said the tax bill unfairly singled out the oil industry.
Stay tuned for much more news after the break.
Carbon Neutral Journal's news is brought to you by High Country Linen Service.
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