Senators supporting Obama call for energy tax credits

As legislation extending tax credits for renewable and alternative energy sources nears the floor Democratic members of the U.S. Senate made clear Barack Obama’s support for these credits. Senate energy chairman Jeff Bingaman (D-N.M.) explained that the considerable tax credits given for installation of solar panels and fuel cells, created in the sweeping 2005 Energy Act are about to expire. “This includes a 30 percent tax credit to put solar panels on your home…There has been no more important provision that has helped the development of solar energy,” he said. Bingaman said that Obama has indicated his support for the bill and will return to Washington if his vote is needed to decide it’s passage. Binagamen said that Senate Democratic think they can pass without Obama’s vote.

The Senate has been trying to pass the extensions for close to a year. Sen. Debbie Stabenow (D-Mich.) said that Republican nominee John McCain has voted against tax credits 23 times. Stabenow emphasized the jobs that would be created in Michigan, where the automobile industry is struggling, if the tax extensions were to pass. She said that McCain opposes a strategy that would create more jobs, primarily because these credits would be paid for by reducing subsidies for oil industries.

Sen. Amy Klobuchar (D-Minn.) said that in not supporting this legislation McCain is “bunting instead of swinging for the stands.” She said that there have been downward trends when these credits expire. She said that small businesses are building wind towers and solar panel. “They have the courage to leave their jobs and enter the new energy economy,” she said. “And we need energy in Washington.”