Senate Sends Energy Tax Credits Back to House

Written by Ucilia Wang

The U.S. Senate on Wednesday night approved renewable-energy tax credits along with a mammoth package to rescue the beleaguered financial market.

By a vote of 74-25, the Senate extended roughly $18 billion worth of tax credits for businesses and residents investing in renewable energy, from building and operating power plants to installing small wind turbines on residential properties.

Both the Senate and the House of Representatives have tried and failed numerous times this year to extend the energy tax incentives, which are set to expire at the end of 2008. ...