House Panel OKs Slimmed-Down Energy Bill [View All]

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http://www.lasvegassun.com/sunbin/stories/bw-cong/2005/apr/13/041305430.html

WASHINGTON (AP) - House taxwriters advanced an $8 billion package of energy tax breaks Wednesday, including measures aimed at spurring construction of electricity transmission lines in hopes of reducing the likelihood of future blackouts.

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Rep. Jim McDermott, D-Wash., called the tax provisions "obscene" because they focused on energy industries including oil and gas companies that are making big profits because of high energy costs.

"What do the American people get - nothing but a raw deal, an obscene deal," said McDermott. At a time of soaring gasoline prices, "there is no provision ... that will lower the price of gasoline, only protect the profits of the oil industry."

Rep. Jim Nussle, R-Iowa, bemoaned the absence of tax breaks for renewable energy - such as credits for wind-derived energy. "We need to make this a priority," he said.

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