[Congressional Record Volume 154, Number 86 (Friday, May 23, 2008)]
[Extensions of Remarks]
[Page E1087]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             RENEWABLE ENERGY AND JOB CREATION ACT OF 2008

                                 ______
                                 

                               speech of

                          HON. HILDA L. SOLIS

                             of california

                    in the house of representatives

                        Wednesday, May 21, 2008

  Ms. SOLIS. Mr. Speaker, I strongly support H.R. 6049, the Renewable 
Energy and Job Creation Act. This legislation will extend and expand 
important tax incentives for renewable energy, will spur business 
investments, cut taxes for millions of Americans, and retain and create 
hundreds of thousands of green jobs.
  The Renewable Energy and Job Creation Act includes $18 billion in tax 
incentives to spur green jobs and energy independence. I am pleased 
that it includes a six-year extension of the investment tax credit for 
solar energy, and between one and three year extensions of the 
production tax credit for addition sources of renewable energy. It also 
provides tax credits of $3,000 or more to purchase fuel-efficient, 
plug-in hybrid vehicles and includes important incentives for energy 
conservation in commercial buildings, residential structures, and 
energy efficient appliance. This bill also includes $3 billion in tax 
credit bonds for State and local governments to make energy 
conservation investments in public infrastructure, investments which I 
hope can be targeted toward low-income communities and our schools.
  Without these energy tax extensions, our nation could lose an 
additional 116,000 jobs this year. with additional long-term 
repercussions in the growth of an industry which has enormous potential 
at in an otherwise uncertain economic time.
  This legislation also invests $37 billion to spur job creation and 
cut taxes for millions of middle-class families. It will help the 
families of more than 13 million children by expanding the child tax 
credit to those earning $8,500 a year, saves 3.4 million teachers money 
by providing a deduction for classroom expenses, extends tax relief 
under the Earned Income Tax Credit to 22,000 American servicemen and 
woman in combat, and would help more than 4.5 million families better 
afford college.
  At a time when families are struggling in a slowing economy and oil 
prices reached yet another record on the world market, this bill is a 
much needed step toward securing our energy and economic future. I hope 
my colleagues and the President will join us in enacting this important 
legislation which makes needed investments without increasing the 
national debt.

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