U.S. Representative Earl Blumenauer (D-OR) recently introduced the Renewable Energy Expansion Act (H.R. 4599), a bill that would allow taxpayers to receive a tax credit that functions as a direct payment for investing in or producing renewable energy. The draft legislation states that the direct payment amount would be adjusted to equal the subsidy provided by the Energy Grant Program, established by the American Recovery and Reinvestment Act. The bill also makes certain technical changes to improve the underlying grant program, and establishes a January 1, 2013 expiration date for the tax credit. Read More…
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