Rejection Of Bailout Bill May Offer Hope For Alternative Energy ITC Credits Extension

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07:57:43 am on September 30, 2008

The House’s refusal to pass the bailout bill may be a blessing in disguise for the renewable energy industry, says the New York Times. The tax credits are still set to expire this year, as the House and Senate can’t agree on some of the provisions attached to the bills introduced to extend them. The House was planning to adjourn and not come back until after the inauguration, but since they couldn’t pass a bill to help fix the mess in the financial industry, they are stuck in their seats for a few more days. Hopefully, while they are still here, negotiators can get these tax credits extended.

As Rhone Resch, president of the Solar Energy Industries Association, said in the Times article, "We’ve been working on getting these extended the last few years. The fact that we are really down to the last few hours, and it takes the complete failure of a non-related bill, is frustrating.”

Amen to that!

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