The Renewable Energy and Job Creation Act of 2008 passes House, but dies in the Senate

The commonsense bill, H.R. 6049, passed the House of Representatives, although Congressman Dennis Rehberg voted against it.  The bill moved on to the Senate last month, with the good news that Montana's U.S. Senators Max Baucus and Jon Tester voted for it. 

The bad news is, the bill was killed in the Senate. 

This failed measure hindered attempts to provide critical tax incentives to make it economically feasible for individuals and companies to install renewable energy systems and build energy-efficient buildings.  Without the tax incentives, new wind and solar projects will be delayed or dropped altogether, and new "green collar" jobs will drop along with them.

BACKGROUND on HR 6049:

* In 2005, as part of the Energy Policy Act of 2005, Congress put in place a package of new tax incentives and tax credit extensions to help create jobs and bring down the cost of installing renewable energy systems, manufacturing and purchasing energy efficient products and technologies.

These incentives include:

• Renewable Energy Production Tax Credit
• Investment Tax Incentives for Solar and Fuel Cell Technologies
• Clean Renewable Energy Bonds
• Tax Credit for Energy Efficient New Homes
• Tax Credit for Energy Efficiency Upgrades to Existing Homes
• Tax Deduction for Energy Efficient Commercial Buildings
• Manufacturer Tax Incentives for Efficient Appliances

Many of these tax incentives that offer citizens and companies partnership dollars to invest in a clean energy future are set to expire in December 2008. If they expire, over 145,000 jobs in the wind and solar industries alone are at risk in 2009. More than $27 billion in clean energy investments may be lost.

* The above background information comes from the Western Organization of Resource Councils.  Visit them at http://www.worc.org/ for more information on HR 6049 and this issue.