Friday, September 19, 2008

H.R. 6049 Passes House; Heller votes 'Nay'

What was Heller thinking? I'd love to hear his logic for that vote.

HR 6049, the Renewable Energy and Job Creation Act of 2008 (read a summary here), would extend alternative energy tax credits for commercial and residential projects. Gee, with the current energy and economic crises, aren't we trying to get folks to switch to alternative energy sources?

Another provision of the bill extends through 2008 —

  1. the election to deduct state and local sales taxes in lieu of state and local income taxes;
  2. the tax deductions for qualified tuition and related expenses and for certain expenses of elementary and secondary school teachers;
  3. the exemption from withholding for interest-related and short-term capital gain dividends received from a regulated investment company;
  4. tax-free distributions from individual retirement plans (IRAs) for individuals called or ordered to active military duty and for charitable purposes;
  5. the election to include combat pay as earned income for purposes of the earned income tax credit;
  6. authority for use of qualified mortgage bonds to finance residences for veterans;
  7. special rules and definitions relating to regulated investment companies; and
  8. the tax exclusion for amounts received under qualified group legal services plans.

Voting 'nay' would essentially 'increase' taxes for every Nevadan. Didn't he say he was all about reducing taxes and recently boast about how many times he'd voted against tax increases? Well folks ... by voting 'nay' ... he not only voted against alternative energy, he voted to increase your taxes (in that if the bill fails, you'd lose your tax deduction for sales tax since Nevada doesn't have a state income tax).

HR 6049 (or its equivalent) still has to be passed by the Senate before it can be sent to the President for signature.

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