House to take up energy tax package after break

[jpak]

http://uk.reuters.com/article/oilRpt/idUKN1336698820080213

WASHINGTON (Reuters) - The House of Representatives will wait until after the Presidents' Day recess to take up legislation that would end $18 billion in tax breaks for big oil companies to pay for extending tax credits for renewable energy.

The legislation includes tax credits to promote renewable energy production from wind, solar, geothermal, cellulosic ethanol, biofuels and other sources. Many of the tax credits will expire at the end of this year.

Democratic leaders said on Wednesday they will take up the bill when lawmakers return after next week's break.

To fund the tax credits, the legislation would repeal some $18 billion in tax breaks for big energy companies.

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[sinkingfeeling]

1. They should have voted on that one while the GOP was sulking on the steps.