UPDATE: The bill has passed, 263-160.
The House is currently debating the Renewable Energy and Job Creation Act, H.R. 6049, to extend and expand tax incentives for renewable energy, retain and create hundreds of thousands of green jobs, spur American innovation and business investment, cut taxes for millions of Americans, and close loopholes allowing U.S. corporations and executives to avoid U.S. taxes by shipping jobs and investment overseas. To reduce our dependence on foreign oil and to protect the environment, this legislation would increase the production of renewable fuels and renewable electricity, and encourage greater energy efficiency. It extends and expands tax incentives for renewable electricity, energy and fuel from America's heartland, as well as for plug-in hybrid cars, and energy efficient homes, buildings, and appliances. The bill would be paid for by keeping hedge fund managers and corporate CEOs from escaping income taxes by using offshore tax havens, while middle-class families play by the rules and pay their fair share of taxes.
Speaker Pelosi speaks in favor of the entire package:
|Speaker Pelosi: “This is a comprehensive approach. The missing part of the energy bill that we passed last year because it did not have the tax credits. Now we do. This industry can take off. We can have private sector initiatives, private sector initiatives to grow our economies, create good-paying jobs here at home. Green jobs, have the green economic revolution, so important to our future.”|
Democratic Caucus Vice Chairman John Larson speaks in favor of closing the tax loophole to pay for the legislation:
|Rep. Larson: “What seems and apparently is the stumbling block on the other side is that we’re providing that we pay for this — and that we’re doing so by, well, taxing a group of people who otherwise go untaxed and yet reap all the benefits of this great nation. Those poor hedge fund guys who sequester their funds offshore and are making millions of dollars, to subjugate them to a tax – Oh! Just the thought of it sends a shudder up the spines of our dear friends on the other side.”|
Rep. Peter Welch (VT-AL) speaks in favor of the bill as part of a new direction in energy policy:
|Rep. Welch: “If we are going to take on the challenge of energy independence, then we have to start providing incentives as we do in this bill for wind, for solar, for biomass, for alternative energy and efficiencies. It is a confident nation that takes on that challenge. it is a submissive nation where the leader of our country goes hat in hand to a country that is not our friend and asks him to solve our problem by pumping more oil. this moves us in a confident direction of independence, self-sufficienty, and self-reliance.”|
Rep. Gabrielle Giffords (AZ-05) speaks in favor of the provisions for solar energy:
|Rep. Giffords: “H.R. 6049 provides vital funds for renewable tax credits, and it will be the fourth time the United States House of Representatives has acted on this issue. I have repeatedly pushed for these extensions because I know they’re necessary for the solar industry in our country. They will spur innovation. With technology improving, many leaders believe solar energy is on track to be cost competitive with fossil fuels by 2015 if not sooner but to achieve the goal, we have to act today before the current energy tax incentive expires. “|
Rep. Jerry McNerney (CA-11) speaks in favor of the provisions for wind energy:
|Rep. McNerney: “We will lose jobs if we don’t extend the investment and production tax credits for technologies. As someone who spent my entire career in the wind industry, I know firsthand how critical these credits are to increasing renewable energy use and production. These incentives help to turn wind power into a viable and growing energy option. Just last week, the Department of Energy released a report estimating that wind can provide 20% of our nation’s energy by 2030. Renewable energy is now competitive with conventional power.”|