"Energy Deal Has Tax Breaks for Companies"

[GreenPartyVoter]

WASHINGTON (AP) - A wide-ranging energy bill expected to move through Congress this week includes more than $8.5 billion in tax incentives and billions of dollars more in loan guarantees and other subsidies for the electricity, coal, nuclear, natural gas and oil industries.

Efficiency and conservation programs would get about $1.3 billion of the more than $14.1 billion in total tax breaks over 10 years, according to lawmakers who have been briefed on the legislation worked out in negotiations between the House and Senate. About $3 billion in tax breaks would go for renewable energy source, mostly to subsidize wind energy.

Sen. Jeff Bingaman of New Mexico, the ranking Senate Democrat participating in the energy negotiations, bemoaned the reduction in support for energy efficiency and conservation programs in the tax package. The Senate had approved more than $3 billion in tax breaks.

But he said he will support the bill when it comes before the Senate, possibly as early as Thursday. The House could take up the measure late Wednesday.

http://apnews1.iwon.com/article/20050727/D8BJL7100.html

[GreenPartyVoter]

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