Would seem as if this should be bigger news: McCain would rather devote alternative energy tax credits to the poor, poor oil corporations who are underwriting his campaign instead of renewing or expanding tax credits to new green-collar industries.
The whole clean-energy ecosystem, from investors to manufacturers to developers, is on tenterhooks to see what will happen with the credits.
Of course, that’s not necessarily the fault of the Democrats who control Congress. Sen. John McCain famously missed the decisive vote on renewing the tax credits earlier this year, and missed another vote after that.
But it does explain why, as California senator Barbara Boxer said last night in Denver, “In the Senate, 60 is the new 50!”. Sixty Demcratic senators is a filibuster-proof majority. That means policy ideas turn into policies. Which is why some observers, like the WSJ edit page, figure the most important votes this election season won’t necessarily come at the top of the ticket—Obama versus McCain—but at the Congressional level.
With 60 Democratic senators, clean-energy advocates like Pennsylvania governor Ed Rendell may just get their wish: permanent tax credits for renewable energy.
1. Renewable resources like wind and solar, or 2. petro-dollar dictators like the Saudi princes. Hmmmm, let us collectively noodle on that choice for a second. Gee, let’s choose door number 1, Alex!