Statement of Senator Barack Obama on the Senate's Passage of the Renewable Energy and Job Creation Act of 2008
U.S. Senator Barack Obama today released the following statement on the Senate's passage of the Renewable Energy and Job Creation Act of 2008 (H.R. 6049):
"I am pleased the Senate finally passed bipartisan legislation that will provide much needed tax relief for low-income families and spur investments in job-creating research and development and alternative energy. The bill extends the property tax deduction for homeowners who do not itemize, which is an important benefit for seniors and working Americans. It also enacts a significant increase in the child tax credit, which I have called for, for millions of our country's most vulnerable families. We must do everything we can to help American families during this time of economic turmoil and this bill is an important step.
"This Act extends critical investments in renewable energy, such as solar, wind, and cellulosic ethanol. It includes tax credits for clean coal and carbon sequestration, and commuters, which I have supported. I am particularly proud that the tax credit for the installation of biofuels pumps at gas stations, a provision I authored and had enacted in 2005, was extended. This legislation also includes a $7,500 consumer tax credit for plug-in hybrid vehicles, which I proposed with Senators Cantwell and Hatch.
"This Act provides desperately-needed disaster relief to help the victims of this summer's flooding. Families and communities in Illinois and across the country have lost so much, and we must help them recover and rebuild as soon as possible.
"As our economy continues to suffer, American families need Congress to act to ensure they can stay in their homes, keep their jobs, and afford energy costs. I call on my colleagues in the House of Representatives to move this legislation forward as soon as possible."