The intention of these incentives is to help products with new, efficient technologies to overcome steep market barriers and move into the mainstream, enabling them to better flourish after the tax incentives have ended.
Washington, D.C., May 21, 2008 - The Alliance to Save Energy today applauded the House of Representatives for passing, on a bipartisan basis, long-stalled extensions for energy-efficiency and renewable tax incentives. The House passed H.R. 6049, the Energy and Tax Extenders Act of 2008, by a 263-160 vote. It includes a five-year extension, through December 31, 2008, of the consumer tax credits for energy-efficient existing homes and for the energy-efficient commercial buildings deduction and a three year extension of existing tax credits for manufacturers of energy-efficient appliances.
The intention of these incentives is to help products with new, efficient technologies to overcome steep market barriers and move into the mainstream, enabling them to better flourish after the tax incentives have ended. In addition, it would facilitate a creation of jobs and enable companies to continue to invest in energy efficient technologies.
"We commend the House of Representatives for completing the first step toward final passage of these timely tax incentives," said Alliance President Kateri Callahan. "Time is running out to ensure that these incentives can be fully utilized before the end of the year, and it now lies with the U.S. Senate to end this stalemate and extend these smart and meaningful energy tax incentives before the July 4th holiday.
"Investment is the cornerstone of any healthy economy, and with Americans continuing to feel the squeeze of high energy prices, it is essential that immediate action be taken to ensure development of energy-efficient technologies to help ease consumer's and businesses' burden," Callahan said.
"We hope that the Senate will see fit that these incentives are passed as quickly as possible," Callahan continued. "Extensions simply cannot wait any longer, and every day that passes is another day of lost jobs, lost energy, and lost time in making our economy more energy-efficient."
The Alliance to Save Energy is a coalition of prominent business, government, environmental, and consumer leaders who promote the efficient and clean use of energy worldwide to benefit consumers, the environment, economy, and national security.