Washington (April 29, 2002) -- Key alternative energy production tax incentives from Sen. Chuck Grassley, ranking member of the Committee on Finance, have passed as part of the comprehensive energy policy bill.
"It makes sense to use the tax code to develop alternative energy," Grassley said. "Cutting taxes is an effective incentive to encourage positive, environmentally conscious ways to produce electricity. I'm glad to work with Senate leaders to advance a good, green energy package."
The tax package includes numerous alternative energy tax incentives that Grassley has championed for years, such as wind energy, biomass, biodiesel, and the small ethanol producer credit. The package also includes a tax credit for the production of energy-efficient appliances, and POWER--the providing Opportunities With Effluent Renewables (POWER) Act, which creates a production tax credit for electricity generated from swine and bovine waste.
-- Electronic Accountant Newswire staff
