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U.S. House approves a $54 billion tax package
The House passed a $54 billion tax package Wednesday that Democratic backers said would help relieve dependence on imported oil while easing the economic strain on parents, homeowners and businesses. ...The measure would provide some $17 billion in tax incentives for renewable energy sources like wind and solar power, carbon capture and sequestration projects, plug-in cars and technology for green buildings. It would also create a new category of tax credit bonds to finance state and local government initiatives to reduce greenhouse gas emissions.
May 22, 2008
by Associated Press
in International Herald Tribune
The House passed a $54 billion tax package Wednesday that Democratic backers said would help relieve dependence on imported oil while easing the economic strain on parents, homeowners and businesses.
The wide-ranging legislation, which passed 263 to 160, now goes to the Senate and an uncertain future. Most Republicans opposed the bill because it would require some corporations with offshore offices to pay more taxes and does not address shielding taxpayers from the alternative minimum tax. The White House, citing those factors, threatened a presidential veto.
The measure renews dozens of selective tax breaks that have expired or will expire soon and... [continue via Web link]
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