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White House renews threat to veto energy tax bill 

The Bush administration on Tuesday renewed a threat to veto a bill before the U.S. House of Representatives that would extend tax breaks for investments in wind-power and solar projects.

The White House objected to a financing strategy that would offset the costs by repealing tax breaks for oil and gas companies worth about $17.6 billion over 10 years. The administration complains, among other things, that it is wrong to single out one industry and said that “this targeted tax increase would reduce the nation’s energy security rather than improve it.”

The Democratic-controlled Congress has tried and failed several times in recent months to extend the renewable-energy tax breaks. With opposition from Senate Republicans and the White House showing no sign of diminishing, Congress faces long odds in passing the measure.

-By Siobhan Hughes, Dow Jones Newswires

nasdaq.com

26 February 2008

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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