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SENATE COMMITTEE APPROVES RENEWABLE ENERGY CREDIT EXTENSION

Thursday, January 31, 2008 - 8:00AM

The Senate Finance Committee yesterday approved, by a 14-7 vote, an economic stimulus package that differs from the House-approved bill. The Finance Committee's alternative proposal totals approximately $151 billion and would extend by one year, through Dec. 31, 2009, the renewable energy production tax credit (PTC) provided under Section 45 of the Internal Revenue Code. The PTC extension is one of several renewable energy tax incentives put forward by Sen. Chuck Grassley, R-Iowa, ranking member of the committee. The bill now moves to the full Senate which is expected to take it up today.

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