Ensign of the times

Senate Republican tries to tack renewable tax extensions onto housing bil

Posted by Kate Sheppard at 1:20 PM on 27 Jun 2008

Sen. John Ensign (R-Nev.) is attempting to add the tax break extensions for renewables that keep failing in the Senate to a giant housing package.

His attempts have stalled the housing bill, which would overhaul mortgage finance and create programs to help borrowers refinance. The Senate is supposed to go into recess today for the July 4 holiday, but Majority Leader Harry Reid (D-Nev.) has threatened to keep it in session until this is resolved. Though the tax extensions are strongly supported by Democrats, they want the extensions to be paid for by closing loopholes for hedgefunds. Republicans are onboard with the tax extensions, but they don't want the pay-fors -- especially if they come by closing loopholes for friends.

Ensign's amendment doesn't include pay-fors, and many Democrats are annoyed that he is stalling on the housing bill to push the extensions through.

For story: Ensign of the times
4 Comments | Post a Comment

Parker!

The Bailo Plan does it one better.

I rode my bike to work today.

Under the Bailo Plan:

Those who bike to work more than 50% of the time get a tax credit.
Bicyclists get stimulus checks for purchase and repair.
In some congested areas, bicyclists would get to receive per mile credits (and money) for riding a bike rather than a car.

by jabailo at 2:00 PM on 27 Jun 2008

Finally someone gets it!

I don't care that the Dems are frustrated that it's holdin' up the bill! It's almost the only chance the tax extensions have! They haveta be attached to a piece of veto-proof legislation!

Finally someone gets it!

It has a better chance as an ammendment, not as an independent bill!

As Enterprise Captain Jean-Luc Picard (my mentor) would say: "Make it so Ensign!"

by Tasermons Partner at 2:14 PM on 27 Jun 2008

oy

Thanks for the dogged reporting, Kate.

These tax extensions look likely to pass one way or the other, but the upshot in the short run is movement of capital away from new renewable energy projects in the US to others overseas...

Erik

The Orion Grassroots Network: supporting grassroots groups working for conservation, justice, & more

by Erik Hoffner at 2:33 PM on 27 Jun 2008

Upshot

I think I'm confused by your comment Erik, could you explain it to me slowly?

by morganmghee at 3:22 PM on 27 Jun 2008
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