U.S. Reps. Alan Mollohan, D-1st, and Nick Rahall, D-3rd, helped pass $16 billion in taxes on oil companies by voting for the "Renewable Energy and Energy Conservation Tax Act of 2007."
Mollohan and Rahall also helped approve "billions of dollars in tax breaks and incentives for renewable energy and conservation efforts," through "a companion energy package aimed at boosting energy efficiency and expanding use of biofuels, wind power and other renewable energy sources," according to The Associated Press.
Rep. Shelley Moore Capito, R-2nd, voted against both the tax measure, which prevailed 221-189 and the "New Direction for Energy Independence, National Security, and Consumer Protection Act." The companion measure passed 241-172.
The tax bill "would repeal for oil companies a tax break given in 2004 to help domestic manufacturers compete against foreign companies, and another tax break pertaining to income from foreign oil production. Critics of the two tax provisions called them loopholes that the industry had taken advantage of," AP reports.
The AP also offers highlights from both the House-passed energy legislation and what the Senate approved in June. The differing versions must be reconciled before anything reaches President Bush's desk.
06 August 2007
They Voted For You: Energy
Posted by Lawrence Messina at 8:30 AM
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