Once Again, Senate Fails to Extend Renewable Energy Tax Credits. By Ayesha Rascoe, Reuters, July 30, 2008. "U.S. legislation extending renewable energy and energy-efficiency tax credits failed a key procedural vote on Wednesday and lawmakers will now set the bill aside, at least temporarily. The extensive tax package includes measures providing an eight-year extension of solar energy investment credits, and a one-year extension of tax credits for biodiesel, renewable diesel, and wind power. The bill required 60 'yes' votes in the 100-member Senate to move forward, but received only 51, with 43 opposed. Lawmakers who support the legislation introduced by [Senate Finance Committee Chair] Sen. Max Baucus say the package is necessary to support investment in the U.S. renewable energy industry... [which in turn] says the delays are causing uncertainty in the industry and jeopardizing new projects... Although the tax legislation stalled on Wednesday, it is not dead. The bill can be brought to a vote again, and Reid said he is open to negotiating with Republicans to get the bill passed."
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