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clear that this section of the Emergency Economic Stabilization Act of 2008 was a bargaining chip used to gain important votes for passage of the overall legislation. Legislation also included the renewal, extension, and creation of taxes, tax incentives, and tax credits aimed at all energy sectors. Of particular emphasis were the residential and commercial electricity sectors as well as transportation fuels, including large sections on biofuels development and use. Renewable energy incentives included the extension of the renewable electricity production tax credit (PTC) for wind and refined coal facilities through 2009. The PTC was also extended through 2010 for biomass, solar, landfill gas, small irrigation power, trash and biomass, and hydropower facilities. EIEA2008 further extended the authority to issue clean renewable energy bonds through 2009.28 Finally, EIEA2008 included several provisions for the transportation sector. Specifically, tax credits for biodiesel and renewable diesel used as a fuel, alternative fuels, and fuel mixtures were extended through 2009. Significantly, it established a new tax credit for qualified plug-in electric drive motor vehicles.29 This tax credit is set to expire in 2014.30 Leadership On May 14, 2008, Rep. Charles Rangel, D-N.Y., proposed the Energy Improvement and Extension Act of 2008 (H.R. 6049) along with seventeen co-authors in the House, all members of the Democratic Party. The main sponsor of the Emergency Economic Stabilization Act of 2008, and in turn the Energy Improvement and Extension Act of 2008, was Rep. Patrick Kennedy, D-R.I. The bill was co-sponsored by more than 270 other representatives.31 Legislative Story The act moved quickly through the House of Representatives, passing on a vote of 263- 160 on May 21, 2008, only one week after its introduction. It then went to the Senate for approval. After failing two motions to invoke cloture on June 10 and June 27, 2008, the bill stalled. On July 29, 2008, a motion to reconsider the invocation of cloture on the motion to proceed to consider H.R. 6049 failed. It was subsequently amended three times and finally passed on September 23, 2008.32 Differences between the House and Senate versions, however, were never resolved and so it never reached President Bush for his signature. With Congress in turmoil as a result of the crashing U.S. economy, H.R. 6049 died as stand-alone act. H.R. 6049 was subsequently included in the Emergency Economic Stabilization Act of 2008 (H.R. 1424).33 Originally introduced on March 9, 2007, by Rep. Patrick Kennedy, the Emergency Economic Stabilization Act of 2008 took nearly a year to come up for a vote in the House. It passed the House on March 5, 2008, by a vote of 268-148 and moved on to the Senate. After several amendments and additions, the Senate passed an amended version of H.R. 1424 by a vote of 74-25. Under extreme pressure from a country now in economic turmoil, it took just 4 hours for the Senate’s amended version 128PDF Image | Shaping Energy Technology Transition
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