House and Senate Pass Extensions of Energy Tax Credits; President Likely to Sign
On October 3, 2008, the House passed H.R. 1424, the “Emergency Economic Stabilization Act of 2008” (the “Bill”) by a vote of 263-171. A copy of the Bill is available here. The Senate previously passed the Bill on October 1, 2008, by a vote of 74-25. Thus, the Bill will now be sent to the President for signature and the White House has issued two Statements of Administration Policy indicating that the President will sign the Bill. Statements of Administration Policies are available here, October 1 and October 3, 2008.
The energy tax provisions are contained in the “Energy Improvement and Extension Act of 2008” division of the Bill that is referenced as Division B. These provisions are identical to those contained in the Senate-passed version of H.R. 6049, and were described in detail in a prior alert.
