Energy tax showdown looms - Houston Chronicle(Renewable Energy)

The Democratic-led House on Friday approved a $60 billion tax package designed to spur investment in renewable energy, while also funding popular existing tax breaks — including one letting Texans itemize state and local sales taxes on their federal income tax forms. Despite previous opposition to measures that singled out the oil industry for higher taxes, the administration supported the Senate bill because it was part of a larger package that would help millions of Americans avoid the hugely unpopular and often-expensive alternative minimum tax. With lawmakers trying — for now unsuccessfully — to leave town ahead of the November elections, the House voted 257-166 to create $15 billion in new tax incentives for investments in renewable energy, capture of carbon emissions, energy efficiency and conservation. Earlier in the week, the Democratic-controlled Senate overwhelmingly approved its own renewable energy tax plan, rolled into a broader package that included hurricane relief and the changes in the alternative minimum tax. read more

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