Senate Finance Committee Chairman Charles Grassley has called upon President Bush to intervene in a stalemate over tax credits between Republicans that is holding up a bill designed to overhaul the nation’s energy policy.
The energy bill aims to deliver some $16 billion worth of incentives to industry to invest in new power plants, develop alternative energy sources and crucially, restore the nation’s ailing electricity grid system, a particularly pressing issue in the light of this summer’s blackout on the eastern seaboard.
However, an impasse has developed between House negotiators and the Senate over the latter’s inclusion of language in the bill which will revamp the tax credit given to ethanol distilled from corn.
At a news conference last week, Grassley told reporters that it is now imperative for the President to end the stalemate, in order to prevent the negotiations from lingering on into next year – an election year.
"I'm sure the White House has that view," commented Grassley, adding “I think it's going to be very necessary for him to weigh in very heavily” to get the ball rolling once again.
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