Politics

Pelosi: Senate Republicans Block Bill that Invests in Renewable Energy, Creates Jobs and Cuts Taxes

By Office of the Speaker

Washington, D.C. — Speaker Nancy Pelosi issued the following statement today after Senate Republicans voted against invoking cloture on tax extender legislation, effectively preventing a final vote on the bill. The House already passed similar legislation this Congress:

?Today, Senate Republicans blocked legislation that invests in the clean renewable energy that will put our nation on a path toward energy independence. It would also create hundreds of thousands of good-paying green jobs, spur American innovation, and cut taxes for millions of Americans.

?The number of people this legislation would help is significant: for example, 30 million homeowners would receive property tax relief; 13 million children would benefit from an expanded child tax credit; 11 million families would receive the state and local sales tax deduction; and hundreds of thousands of highly-paid jobs in the energy sector would be created and retained.

?Because this legislation is about our nation?s future, it is fiscally responsible. In order to invest in the energy policies and jobs of the future, it closes loopholes allowing corporations and executives to avoid paying certain taxes by shipping jobs and investment overseas. The New Direction Congress thinks we should focus tax benefits on creating jobs and encouraging investment here at home, and these revenue offsets have typically enjoyed strong bipartisan support.

?As gas prices soar, and unemployment numbers climb, Americans are looking to Congress for urgent help with their economic challenges. Senate Republicans could have worked with us to invest in the future and the ingenuity of the American people. Instead, they voted to let taxes on American families and businesses increase.?

Full post as published by The Gavel on June 17, 2008 (boomark / email).