May 5, 2004—Over 100 energy companies, organizations and other businesses recently asked the US Senate to approve legislation providing for about $14-billion in energy industry tax incentives over the next ten years, reports Platts. In a letter to Senate leaders, the companies and organizations—including the Edison Electric Institute, PacifiCorp, Wisconsin Energy and MidAmerican Energy Holdings—said prompt passage of the legislation, part of the broad corporate tax bill, S 1637, “is vital for supporting continued economic growth” and addressing the country’s energy supply needs.
Supporters acknowledged numerous amendments threaten passage of the measure, but asked lawmakers to work together. “With every month that passes without passage of energy tax legislation, the energy industry faces continuing uncertainty and disincentives to investing in areas such as renewable energy, energy efficiency and new technologies,” the companies and organizations said.
