Finance Committee Approves Stimulus Plan With Tax Incentives Extension


The U.S. Senate Finance Committee has voted 14-7 in favor of an economic stimulus plan authored by Chairman Max Baucus, D-Mont., that includes an extension and modification of incentives for the production of electricity from renewable resources. The proposed extension is for one year.

‘While we are disappointed that the extension is only for one year, SEIA will continue to press the case for an eight-year extension of the commercial and a six-year extension of the residential credits, along with all of the other improvements that we have pursued for over a year,’ says Rhone Resch, president of the Solar Energy Industries Association (SEIA).

‘However, an extension of the existing credits to 12/31/09 gives us breathing room as we continue to fight for our longer extensions. Additionally, multiple Senate offices have assured us that," by hook or by crook,' we will get the eight- and six-year extensions through,’ he adds.

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