Energy Tax Bill Includes Renewable Resources
The House is debating an $18 billion energy tax package that would reduce tax incentives for oil companies and provide tax credits for renewable energy production.
House Democrats say its time for a new energy policy that reduces the country's dependence on oil. The measure touches on wind power, solar, ethanol and other biofuels.
Rejected as part of last year's broader energy bill, the legislation would pay for renewable energy incentives by eliminating tax breaks for the oil and gas industry.
The White House has threatened a veto.
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