Another vote on an extension of renewable energy tax credits is expected in the Senate before Congress adjourns for the August recess. The two sides haven't been able to agree on the budget offsets needed to pay for the credits. Now the National Governor's Association is calling on Congressional leadership for a five-year extension of the renewable energy tax credits. All 50 members of the association signed a letter that explains the importance of the tax provisions and calls an extension critical. The letter goes on to say action must be taken as soon as possible.
According to the letter, governors around the country have pioneered innovative energy policies. The development of federal tax incentives, including clean renewable energy bonds, helps to supplement those state efforts.
The governors also called on Congress to develop additional programs for those families and businesses using energy-efficient building techniques, materials and equipment. The letter states that extending energy efficiency and conservation incentives will slow the growth of future energy needs, minimize ratepayer costs, and lessen potential environmental impacts.
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