WASHINGTON, DC – Today, U.S. Senator Maria Cantwell (D-WA) expressed dissatisfaction with Republican leadership’s decision to block the Renewable Energy and Job Creation Act of 2008 for the second time. However, she continues to remain optimistic that Democrats can find a solution to bring tax relief to millions of American families, lower the costs of research and development in the United States, and preserve needed jobs and investments in renewable energy industries.   

 

“Americans should not have to wait any longer for this tax relief,” said Cantwell. “TheRepublican leadership continues to talk about high gas prices, the need to invest in alternative energy and the tax burden endured by our struggling families.  They should work with us now and pass this important legislation so we can address these challenges and provide solutions. We can preserve the jobs and investments in clean energy that are at risk if we don’t act now.  I am going to continue to work to see this important legislation get enacted into law so that consumers can have the tax relief they need and the clean energy industry can and will remain strong.”

This bill contains a robust package of tax incentives that would have supported needed jobs and investment in electricity production from wind, solar and fuel cells; supported the efforts of struggling auto manufacturers to lead the way on production of plug-in electric vehicles so consumers really can have a viable option to reduce the hit of high gas prices on their budgets; encouraged investments in energy efficient technology and upgrades to homes, factories, and appliances that will help consumers and businesses lower their growing and volatile energy costs. 

 

Additionally, this bill would have lowered taxes on working Americans without adding to the growing burden of federal debt.  It would have reined in the wasteful use of tax dollars by closing the door on the unlimited sheltering of money stashed in offshore accounts by hedge fund managers and dedicated those dollars to extending the deduction for state sales taxes, the deduction for tuition expenses, the deduction for teachers’ out-of-pocket expenses, and the R&D tax credit that supports high-wage jobs in the United States.

 

Legislation offered by Senators Max Baucus (D-MT), Cantwell, and others to extend the state sales tax deduction, the research and development tax credit, and extend tax incentives to support needed jobs and investment in electricity production from wind, solar and fuel cells has been blocked multiple times by Senate Republican leaders in recent weeks. Instead of considering the measures on their own merits, Senate Republican leaders have thus far insisted on tying them to controversial legislation and issued veto threats against the House bill bringing little tax fairness to Americans.  

 

Cantwell has made making our nation's energy system cleaner, more efficient, and more diverse one of her top priorities.  She leverages her membership on the Senate Energy, Commerce, and Finance Committees to push her vision of a clean energy economy and to support budding clean energy industries, while bringing tax relief to the American people. In addition, on the first day of this Congressional session she introduced legislation that would extend the ability for Washingtonians to deduct state sales tax from their federal income tax returns.

 

 

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