April 4, 2008
U.S.

Senators: Deal reached to extend 'green' power tax breaks

Sponsors now call measure ‘stimulus’ bill

After failing three times in the past year to extend popular tax breaks for wind, geothermal and solar energy, two senators on Thursday announced a compromise they said might get it done.

Sens. Maria Cantwell, D-Wash., and Sen. John Ensign, R-Nev., introduced a $6 billion bill to renew tax credits on energy production from renewable resources, and for consumers who buy solar panels and other energy efficient items.

The tax credits are set to expire at the end of the year, and without an extension people are less likely to invest in the forward-looking industries, Cantwell said.