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GOP SENATORS URGE APPROVAL FOR EXTENDERS PACKAGE WITHOUT OFFSETS

Thursday, May 1, 2008 - 2:00AM

A group of 42 Senators this week sent a letter to Senate Finance Committee Chairman Max Baucus, D-Mont., and Ranking Member Charles Grassley, R-Iowa, expressing their support for the Alternative Minimum Tax and Extenders Tax Relief Act of 2008, which Baucus and Grassley introduced on April 17, and urging that it be enacted without revenue offsets. In addition to increasing the AMT exemption and allowing nonrefundable personal credits against AMT, the measure would provide an extension of the 30 percent investment tax credit for solar energy property and qualified fuel cell property, as well as the 10 percent investment tax credit for microturbines for one year (through 2009). It also includes an increase of $400 million to the Clean Renewable Energy Bonds (CREBs) program for bonds issued after December 31, 2008.

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