This is an archived story. The information and any links may no longer be accurate.
|
10/02/2008 06:51 AM
|
|
|
Congressional Update: Senate Passes Tax Credits
SustainableBusiness.com News
Today's News Stories:
» more news
Last night the U.S. Senate passed the $700 billion economic bailout bill rejected by the House on Monday by a vote of 74 to 25.
In a politically astute move, the Senate attached to the bill a tax package that breezed through the Senate a week ago with a vote of 93-2.
The tax package, which includes the renewable energy tax credits so
desperately needed by wind, solar, geothermal and other renewable
sectors, was not supported by the House, which had passed its own more
fiscally responsible bill to extend the tax credits.
However, the House is now under even heavier pressure to pass the
economic bill, which many view as a last-chance effort to keep the U.S.
and world economies from collapsing.
In effect, the Senate has raised the bet, and the House must now decide whether to play along, or fold again.
Bill Bans Mercury Export
In the Congressional drama of the last week, an important bill
received little attention as it passed both houses and will soon arrive
at the president's desk.
Introduced in the Senate in March 2007 by Demcratic presidential
candidate Barack Obama (D- Ill.) the bill was approved overwhelmingly
on September 29 in the House by a vote of 393-5.
The bill prohibits the commercial export of elemental mercury
from the United States, beginning in 2013. It also prohibits the
commercial sale or transfer of federal mercury stockpiles held by the
Energy and Defense departments for any purpose other than transfer into
permanent storage; and it provides for the permanent storage of mercury
by the Energy Department.
"I applaud Congress´ overwhelming bipartisan passage of this important
bill, which will protect million of the world´s vulnerable citizens,
particularly pregnant women and children, from the deadly threat of
mercury poisoning," Obama said. "I am proud this bill will now remove a
significant portion of mercury from the global market."
