[Congressional Record Volume 154, Number 86 (Friday, May 23, 2008)]
[Extensions of Remarks]
[Page E1066]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             RENEWABLE ENERGY AND JOB CREATION ACT OF 2008

                                 ______
                                 

                               speech of

                            HON. GENE GREEN

                                of texas

                    in the house of representatives

                        Wednesday, May 21, 2008

  Mr. GENE GREEN of Texas. Mr. Speaker, I stand in strong support of 
H.R. 6049, the Renewable Energy and Job Creation Act of 2008.
  I have always believed that as a Nation we should wean ourselves from 
our dependence on fossil fuels and invest in the energy of the future.
  After several attempts, the House of Representatives has finally 
found an appropriate balance to promote the technologies of tomorrow in 
a way that will benefit our long term energy security.
  This legislation has much to be proud of.
  It will extend the tax credit for producing electricity from 
renewable sources of energy which will enable Texas--the Nation's 
number one producer of wind energy--to continue adding clean energy and 
jobs to our economy.
  It also extends the investment tax credits for solar energy, fuel 
cells, and energy-efficient appliances for the home, and it creates new 
tax credits for plug-in hybrid vehicles and renewable energy tax-credit 
bonds.
  And after learning of the unintended consequences that corn-based 
ethanol has had on our environment and global food prices, this 
legislation rightly includes a six-cent reduction in the ethanol tax 
credit and creates a new credit for the production of cellulosic 
biofuels.
  Aside from energy provisions, I am pleased this legislation includes 
several sections extending benefits for members of the military and 
veterans.
  Extension of the rules allowing military personnel to treat their 
combat pay as earned income, extending specialized mortgage bond rules 
for veterans, as well as a provision allowing reservists to make 
penalty free withdrawals from the retirement accounts if called to 
active duty for 180 days or more will benefit those who have served our 
country, and provide added financial options for their families if 
necessary.
  Finally, H.R. 6069 will extend the state and local sales tax 
deduction which assists taxpayers in Texas who do not pay a state 
income tax, and it provides almost $10 billion of additional tax relief 
for individuals through an expansion of the refundable child tax credit 
and a new standard deduction for property taxes.
  Mr. Speaker, I want to thank my good friend and colleague, Chairman 
Rangel, for producing a bill that enhances our energy and job security 
and that has support from both sides of the aisle.
  I urge my colleagues to support this legislation.

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