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(WASHINGTON, D.C.) - U.S. Representative Ron Klein (FL-22) today helped pass legislation to help end our dependency on foreign oil by creating unprecedented new investments in renewable energy sources. The bill would further create hundreds of thousands of new jobs and cut unnecessary taxpayer-funded subsidies to the oil companies. The Renewable Energy and Energy Conservation Tax Act of 2008 was approved by a vote of 236 to 182.
“This legislation sends a bold message, on behalf of the American people, that we refuse to continue subsidizing Big Oil," Klein stated. "Instead, we are taking that money and using it to create bold new ideas and innovative solutions to end our energy crisis. By extending green incentives to businesses and families in a fiscally responsible way, we are putting this country on a path to energy independence.”
The Renewable Energy and Energy Conservation Tax Act makes new investments that will help reduce our dependence on foreign oil, increase renewable electricity production, create jobs and protect our environment. The bill extends and expands tax incentives for renewable electricity, energy and fuel, as well as for plug-in hybrid cars, and energy efficient homes, buildings, and appliances. Additionally, the bill includes solar energy tax credits that could reduce carbon dioxide pollution by 240 million tons.
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