Rep. Pascrell On Investing In Clean, Renewable Energy

Today, the House of Representatives is debating the Renewable Energy and Energy Conservation Tax Act of 2008 (H.R. 5351), which will end unnecessary subsidies to Big Oil companies and invest in clean, renewable energy and energy efficiency. It will extend and expand tax incentives for renewable electricity, energy and fuel, as well as for plug-in hybrid cars, and energy efficient homes, buildings, and appliances. These provisions are critical to creating hundreds of thousands of jobs. And the preservation of existing jobs relies on them too: a recent study showed that allowing the renewable energy incentives to expire would lead to about 116,000 jobs being lost in the wind and solar industries through the end of 2009.