Obama doubles renewable energy tax credit in stimulus plan (now $20B)

[jpak]

http://www.bloggingstocks.com/2009/01/12/obama-doubles-renewable-energy-tax-credit-in-stimulus-plan/print/

Energy producers may soon notice the decided shift in the wind in Washington, political and otherwise.

After consulting with Congressional Democrats, President-elect Barack Obama moved quickly to double his proposed tax credit for renewable energy in his fiscal stimulus package to $20 billion. The Obama Administration's overall fiscal stimulus package is expected to total about $700-$850 billion.

New 'sheriff' in town

Economist Peter Dawson told BloggingStocks said Obama's energy discussions with Democrats on Capitol Hill display both Washington savvy and a decidedly new energy tone inside the corridors of power.

"First, Obama, so far, is making good on his 'all ideas considered' philosophy. Congressional Dems wanted a renewable energy tax credit program that will help speed the development of solar and wind power, and $20 billion in 2009 will further that goal. So Obama's collaborative decision making process is being deployed," Dawson said.

<more>

[blm]

1. Obama establishing he'll ACCEPT good proposals and won't demand loçkstep thinking like Bush needed.

The corpmedia must be very disappointed - they had their narrative of 'rubberstamp congress' jerked right from under them by Obama and Dems.

[Frustratedlady]

2. How refreshing that our energy policy will focus on the middle class...

rather than the oil barons.