Wednesday, January 30, 2008

Senate Adds Alt-Energy to Stimulus Package!

Dow Jones: Solar, Wind Energy Tax Credits In Senate Stimulus Plan

After an unpleasant day on the Market, this comes as great news! Thanks to Sope1971 of Yahoo for the find!

After GW's disappointing State of the Union, there wasn't much on the horizon to look forward to for the rest of this year as far as US Alt-Energy.

The problem is that having made this statement on Solar Credits (in Committee, at least), they MUST follow through, or we're going to get killed in the markets. They MUST get it through the Senate, and the MUST get Bush to sign it. The stakes are incredibly high, and not just for investors.

However, this is the best opportunity for them to force such a measure through Whitehouse resistance, and if GW chooses to stall the Stimulus Bill, then the pressure will be on Bush to make it happen. Why? Because the arguments support this addition as one of the best ways to stimulate economic growth. Americans can be made to understand this, and there are Republicans up for election this year.

For one thing, giving businesses a 30% tax credit for investment in Alt-Energy creates not only immediate spending and investment, but it focuses that spending on additional Energy Supply, which directly acts counter to inflation. Bush will have a difficult time arguing against this. There are no spending increases, only tax cuts, and also, this is an existing program that is being extended; it is not a new program.

Look for a bounce in Solar tomorrow on speculation of passage. Contact your Congresspeople and let them know of your support for this (particularly Republican Congresspeople).

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