Alliance Lauds House Approval of Energy Efficiency Tax Incentives; Urges Congress to Put ‘Extenders’ on Fast Track for Enactment
Washington, D.C., February 27, 2008 – The Alliance to Save Energy today praised the U.S. House of Representatives for adopting H.R. 5351, the Renewable Energy and Energy Conservation Tax Act of 2008, extending energy-efficiency tax credits that are major incentives for moving new efficient technologies into the commercial mainstream. The bill was approved by a bi-partisan majority of 236-182.
“The energy efficiency tax credits included in H.R. 5351 were one of the key missing elements in the landmark Energy Independence and Security Act of 2007 enacted into law last December,” observed Alliance President Kateri Callahan. “With today’s action by the House, the Senate now has an opportunity to take care of this important unfinished business which will help consumers and businesses across the country suffering under the burdens of both spiraling energy costs and an economic downturn.”
H.R. 5351 extends the now-lapsed credit for energy-efficiency improvements in existing homes for two years, through December 31, 2009; extends the energy-efficient commercial buildings tax deduction for five years, through December 31, 2013; and modifies and extends the credits for manufacturers of energy-efficient appliances for three years, through December 31, 2010.
“The House-passed efficiency tax incentives represent a wise and important investment of tax dollars, as they will reap positive returns to our economy, lower our overall energy demand, and improve our environment,” Callahan added.
She concluded, “The Congress and the president must work together to resolve differences and/or set aside other provisions contained in H.R. 5351 to ensure that the energy-efficiency tax incentives – which enjoy broad bi-partisan support by the Congress and the administration – can be enacted into law this year.”