US Senate passes Wall Street bailout bill after biodiesel, wind, solar tax credits added

In Washington, the US Senate included extensions of the renewable energy tax credits in the Wall Street bailout bill, prompting a 74-25 vote in favor of the bill. The addition of renewable energy tax credits also led to speculation that the bill will now pass the US House. The additional language in the bill provides a one-year extension of the wind energy tax credit, an eight-year extension for solar energy projects, credits from $2500 to $7500 for buyers of plug-in hybrids, and an extension of the $1 per gallon biodiesel production incentive. U.S. Rep. Steve King, R-IA, told the Des Moines Register that, with the credits, he believes the bill will now pass in the House.

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