The U.S. House of Representatives on Friday approved legislation that would extend billions of dollars in tax credits for renewable energy. The bill, which now faces some opposition in the U.S. Senate, is similar to the bill that cleared the Senate earlier this week, except that the House bill includes measures to pay for the tax breaks, which are opposed by most Republican lawmakers. It is unclear whether the House and Senate will be able to compromise on their bills and deliver a final energy tax package to the White House before lawmakers leave town to campaign for the November election. A final bill may have to wait until a possible Congressional session after the election. Both the House and Senate bills would extend for one year production tax credits for wind energy, with an eight-year extension for investment tax credits for solar energy projects. Both provide tax credits for purchasing plug-in electric vehicles, though at different amounts.
