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Public Statements

Renewable Energy And Job Creation Tax Act of 2008

Floor Speech

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Date:
Location: Washington, DC

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Ms. BERKLEY. I thank the gentleman for yielding and for his leadership on these important issues.

Madam Speaker, I rise in support of this bill to provide incentives for clean, renewable domestic energy production, to improve our energy security, and to extend provisions that provide vital tax relief to parents, teachers, college students, small businesses and millions of other middle class Americans.

The energy provisions in this bill will allow my home State of Nevada to become an even stronger leader in the field of renewable energy. In a State that has a renewable energy standard and sunshine almost every day of the year, our entrepreneurs are anxious to secure the 8 years of solar energy tax credits contained in this bill, while our public utilities will finally be able to claim that credit as well.

Instead of capping solar tax credits at $2,000 for residential property owners, this bill will allow home owners to recoup 30 percent of their solar energy installation costs as a tax credit.

Solar is just one renewable energy source in this bill. There's also tax credits for wind, geothermal and biomass. The time is long past due for these important tax credits to be extended.

This legislation also renews a number of expired individual and business tax credits, and will ensure that the residents of Nevada and other States that do not pay a State income tax are treated fairly and allowed to deduct State and local sales taxes instead.

It's also important to note that the tax relief in this bill is fully paid for and will not add a single dollar to the national debt. Now, that's good fiscal policy.

I urge support for this bill, and I urge the Senate and the President to do their part to enact this important legislation.

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