"If we are serious about ending our nation's dependence on foreign oil and increasing the use of clean sources of energy like solar, we must work together to extend these critical tax credits," said Giffords. "Congress cannot just talk the talk on energy. It needs to walk the walk."
Giffords was among 257 House members who voted today to extend renewable energy tax credits for eight years. Extension of the credits is critical for the solar energy industry in Arizona and across the country.
"Securing America's energy independence depends on these tax credits," said Giffords, a member of the House Science and Technology Committee. "They are absolutely critical to addressing the energy crisis confronting our nation."
Among the recipients of the tax credits would be the Arizona utility APS, which has proposed building the largest solar plant in the world 70 miles southwest of Phoenix. The $1 billion plant would provide power to about 70,000 homes but it will not be built without extension of the tax credits. Under current law, the tax credit is scheduled to expire at the end of 2008.
The legislation passed by the House today is similar - but not identical - to a bill passed recently by the Senate. The House version adheres to the principle that the legislation should not worsen the budget deficit. As a result, it limits the tax breaks available to the oil and gas industry.
"The House and Senate need to work out their differences," Giffords said. "Solar power represents one of our nation's best hopes for a clean, secure and sustainable energy future. It will provide powerful economic benefits to my district in Southern Arizona and to the rest of the country."