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Next Three Weeks Crucial on Tax Bill Containing Wind Production Tax Credit

Top Congressional tax negotiators Sen. Chuck Grassley (R-Iowa) and Rep. Bill Thomas (R-Calif.) have reached an understanding aimed at breaking the logjam on tax legislation. At the same time, Congress is struggling to conclude the session in the first or second week of October. Under the evolving plan, a separate tax bill on family tax credits would be acted on next week. This group of tax credits is an election-year priority for the Bush Administration. The bill would: – Maintain the child tax credit at the maximum level of $1,000 through 2009; – Maintain relief from the "marriage tax penalty" through 2008; – Maintain the current upper limit on the 10% income tax bracket through 2007; and – Maintain current exemptions from the Alternative Minimum Tax through 2006. All of these provisions are now set to expire on December 31. The Corporate Tax/JOBS (Jumpstart Our Business Strength) bill (H.R. 4520) containing the wind energy production tax credit (PTC) and many other energy tax credits would be acted on after the family tax credit bill. For over a week, Sen. Grassley had insisted on linking action on the two tax bills. At a noon meeting held on September 17 attended by […]

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California Industry Posed to Provide World-Leading Technologies, Jobs for Cleaner, More Efficient Vehicles

A new report from CALSTART on California's transportation industry finds the state is a leader in the core skills needed to design and produce technologies that can reduce global warming pollution from vehicles. Moreover, as requirements to reduce this pollution grow, the companies producing these technologies stand to substantially increase their California jobs and investments. CALSTART's report, "California's Clean Vehicle Industry," takes a snapshot of companies involved in or capable of producing technologies that can reduce global warming pollution in vehicles. It outlines the potential size of the market for products that reduce such emissions, and then surveys a cross section of those companies to find what impact increased requirements to reduce the emissions in vehicles will have on their operations. The overwhelming response was that California high-tech companies have the needed skills to respond to such requirements, and projected that their jobs and investments would grow as a result. Says CALSTART's President and CEO John Boesel, "Climate-friendly cars would tap the core skills of the state in what could be a $20-billion domestic business, and can lead to more high-quality jobs in engineering, electronics and software design." The key findings of the report are: ** California is a leader […]

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Behind in Hybrid Car Race, Honda Unveils Hybrid Accord

by John O'Dell, September 17, 2004 In the race to win over Americans with gas-stingy, hybrid-powered cars, Toyota Motor Corp. has sped past Honda Motor Co. Toyota's futuristic-looking gas-and-electric-powered hybrid Prius is outselling Honda's Civic Hybrid by almost 2 to 1 in the U.S. this year. To try to catch up, Honda this week in San Diego unveiled its biggest hybrid yet: a 2005 Accord Hybrid sedan that will reach dealers' showrooms Dec. 3. Honda promises that the Accord Hybrid, with 255 horsepower, will perform better than its top-of-the-line, 240-horsepower, six-cylinder, gas-powered Accord. As the first hybrid with a six-cylinder engine, the company says, it will accelerate from a stop to 60 mph in 7.5 seconds, besting the regular Accord's eight-second time. What's more, Honda's tests show the Accord Hybrid will get 30 miles per gallon in the city and 37 mpg on the highway, versus the federal EPA rating of 21 mpg city and 30 highway for the conventional model. With an expected price of $30,000, the Accord Hybrid will cost about $3,300 more than the current EX model on which it is based. Honda sells almost 400,000 Accords annually in the U.S. and plans to ship about 20,000 […]

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California Governor Vetoes Jackson's Bill on Green' Building

by Nora K. Wallace, September 17, 2004 Governor vetoes Jackson's bill on green building saying the legislation duplicates his and other efforts on "green" building practices. Gov. Arnold Schwarzenegger on Thursday vetoed a bill by Assemblywoman Hannah-Beth Jackson. Ms. Jackson, D-Santa Barbara, sought through AB 2311 to establish sustainable building goals for California. If made into law, the bill would have required the state to develop sustainable — or green — building goals within state building standards. "I'm really disappointed, and I think our community will be very disappointed," Ms. Jackson said. "Green building has been something Santa Barbara County has really embraced. I'm disappointed the governor has not signed this to ensure this will be the policy in the state for years to come." Such building practices, the lawmaker said, promote efficient use of energy, materials and water because they use recycled materials and encourage the use of natural light, among other efforts. In his veto message, the governor said he has already directed his administration to create a working group to develop green building initiatives for public and private buildings. "The group is currently developing recommendations for a comprehensive program to dramatically advance energy conservation as well as […]

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