Ensign Hopeful for Housing Compromise Bill
After
helping to break the partisan divide on legislation to help struggling
homeowners, Senator John Ensign is optimistic about the progress being made on a
bipartisan bill. Earlier in the week, Ensign joined Republican and Democratic
leadership at a press conference to announce an agreement to move forward in a
bipartisan manner.
As the
bill begins to take shape, Senator Ensign released the following statement:
“We have
a unique opportunity to work together and draft a bill that will both help solve
the housing problem and strengthen our economy. When it comes to the housing
market, my home state of Nevada has been hit the hardest. It is not only
hurting families and homeowners but also risks dragging down our economy
further.
“It’s
promising that we have come together to help those who need it most. I’m
hopeful that a final bill will help struggling families, better educate
borrowers and strengthen our economy in a way that is responsible.
“Earlier
this week, I spoke about providing tax credits for purchasing a home in
foreclosure, updating the Truth in Lending requirements to include information
on adjustable rate mortgages and expanding foreclosure protection for our
veterans returning from overseas.
“These
are just a few of the provisions I would like to see in a final bill, and I look
forward to continuing to work with my colleagues on this legislation as it moves
forward.”
Ensign, Cantwell Lead Bipartisan Proposal To
Encourage
Development Of Renewable Energy
Senator
John Ensign, along with Senator Maria Cantwell (D-WA), led a bipartisan group of
senators today to announce a bill to encourage the development of renewable
energy and expand energy efficiency in buildings, homes and appliances.
“Satisfying
our energy needs and reducing our reliance on foreign sources is a challenge
that we must meet, but that can only happen with the right incentives in place,”
said Ensign. “Our bipartisan bill will help put us on a path toward energy
independence with American ingenuity leading the way.”
The
Clean Energy Tax Stimulus Act of 2008, authored by Ensign and Cantwell, extends
incentives to encourage renewable energy. Extending the placed-in-service
deadline through 2009 for the Production Tax Credit encourages electricity
production using renewable energy resources such as geothermal, wind, biomass,
hydropower facilities and much more. These renewable energy plants will have
valuable tax stability for 10 years.
Extending the solar and fuel cell Investment Tax Credit for eight years also
encourages tremendous development of these technologies.
“Some
remarkable energy projects have come online, and with the right tax incentives,
they will thrive and help meet our growing energy demands,” said Ensign. “If
Congress continues to drag its feet, many projects across the country will be a
sad reminder of potential that was never met.”
“We have
an opportunity to break the stalemate in the Senate,” Ensign added. “Especially
at a time when our economy is struggling, we should not be increasing taxes to
pay for incentives. These incentives are necessary for our energy security and
to help jumpstart our economy.”
Studies
have shown that the Production Tax Credit and Investment Tax Credit for
renewable energy projects would help create 120,000 employment opportunities and
bring almost $20 billion in economic investment into the country.
Ensign
and Cantwell’s bill has 6 Democratic cosponsors and 14 GOP cosponsors in total.
