Republicans Block Extension of Solar Tax Credits

From Clusterstock: The bill that would have extended US Investment Tax Credits (ITC) for solar energy for 8 years stalled again yesterday. A preliminary vote on the Energy Independence and Tax Relief Act of 2008 only secured a 52 for – 44 vote against the bill.

This preliminary vote–called a cloture motion (a procedure by which debate is ended and an immediate vote is taken)–requires the support of 60 Senators for the bill to pass. While more Republicans seems to be warming up to the idea of a compromise, the party opposes the bill because they do not want to set a precedent of using tax increases to pay for an extension of existing tax policy.

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