Wednesday, May 28, 2008

Important Indiana Legislation: The Renewable Energy and Job Creation Act

With gas prices going up by the day and families being forced to spend large amounts of their budgets on gas, the need for a new energy policy and measures to support the middle class is clear. Last Wednesday, May 21, I voted for an important bill to establish common sense energy policy and lend hard-working Americans a helping hand. H.R. 6049, the Renewable Energy and Job Creation Act, which would expand the production and use of renewable energy, create jobs, and provide tax relief to Northwest Indiana’s middle class families, passed the House of Representatives with bipartisan support by a vote of 263-160.

The Renewable Energy and Job Creation Act would increase the production of renewable fuels and renewable electricity and encourage greater energy efficiency in order to reduce our dependence on foreign oil and protect the environment. It extends and expands tax incentives for renewable electricity, energy, and fuel from domestic sources, as well as for plug-in hybrid cars and energy efficient homes, buildings, and appliances. These provisions are an important component of diversifying our energy mix and solving the energy crisis. They will also help preserve and create many good-paying jobs in the renewable energy industry.

The Renewable Energy and Job Creation Act also provides a much-needed economic stimulus by supporting businesses that invest in America’s future and providing tax relief to millions of American families. It extends the research and development tax credit to spur American innovation and business investment, and cuts taxes for many people in Northwest Indiana. The bill would expand eligibility for the $1,000 refundable child tax credit and provide tax relief to homeowners who do not itemize their deductions by permitting them to deduct up to $700 of property taxes in addition to their standard deduction. It is a fiscally responsible measure that offsets the tax breaks for hard-working people and businesses that invest in America by closing tax loopholes for corporations and executives such as outsourcing jobs and investing overseas.

The weak economy has left families across Northwest Indiana struggling to make ends meet. The Renewable Energy and Job Creation Act will ease the pinch on families and will also create many much-needed jobs in Northwest Indiana. It is a common sense measure that we in Northwest Indiana need.


Pete Visclosky
Member of Congress

Washington Office
2256 Rayburn
House Office Building
Washington, D.C. 20515
phone: (202) 225-2461
fax: (202) 225-2493

Northwest Indiana Office
701 East 83rd Avenue, Suite 9
Merrillville, IN 46410
phone: (219) 795-1844
(888) 423-PETE (toll-free)
fax: (219) 795-1850

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