With the stock market reeling under the burden of the recent collapse of real-estate markets due to the wave of adjustable rate mortgages coming due, the problems with excessive use of home equity loans, and to the effects rippling through the financial sector as a credit crisis, we are once again at a teachable moment. How we spend our money matters at least as much as how much we spend.
Congress is scrambling to pass a stimulus package to revive the economy; but, as in the past, the emphasis on a quick fix, a few extra bucks in the pocket that will set everyone off on a spending spree. We have seen this before. The "Bush tax rebates" and other measures in the stimulus package of 2001 did help foster a consumer driven recovery; but at the same time the trade deficit grew exponentially and many good manufacturing jobs went overseas never to return.
This is not good for America, long term, because we need to provide a range of economic opportunities for our youth that includes demand for skills needed in the manufacturing sector.
On the other hand, if a stimulus package focuses on the future, by building infrastructure here in the US that will be of lasting value; and, if it focuses on making more efficient use of physical resources, then it will contribute to a healthier more sustainable economy. There would be a real benefit now and in the future.
Just as we can't borrow our way to financial security, we can't drill our way to energy security. Environmentalists have been saying for years that its not the "economy or the environment" but the "economy and the environment". There are many reasons why we need to shift from a highly polluting unsustainable fossil fuel economy to a clean, renewable energy future. There are numerous studies that show that fostering the growth of clean, renewable energy industries will be a net benefit to the economy, both in the short and the long term. In doing so, we will also have a better chance to dodge the most egregious consequences of the global warming bullet should it come our way.
One way to stimulate renewable energy production would be to extend existing tax credits the renewables industry says are critical to sustain its growth this year and next. While wind energy related construction in Texas has been on the rise, some wind and solar power producers are now seeing investors pull back and they expect many projects to be canceled if the tax credits passed in 2005 are not extended by the end of March. So, environmentalists are pushing to include clean energy incentives in the economic stimulus package. Here is the latest call to action from the Sierra Club.
Best regards
Bob Fusinato
Friday, 1 Feb 2008:
Important Senate floor votes on the economic stimulus package are likely Wednesday. A vote on cloture (to proceed to floor debate on the economic stimulus package) will likely occur Monday night. The next round of votes will determine whether the clean energy incentives stay in or are taken out.
TAKE ACTION: Call your Senator today.
**Forward this action item!**
Call your Senator TODAY! Ask him/her to support tax incentives for renewable energy and energy efficiency!
Senate switchboard: (202) 224-3121
Sample Phone Script
Hi. My name is [NAME] from [CITY/TOWN]. I urge Senator [NAME] to support clean energy and energy efficiency tax incentives in the economic stimulus package. This package is an opportunity to provide a boost to clean energy companies and consumers right now that will create and retain green jobs and reduce our dependence on fossil fuels.
Renewable energy tax incentives are urgently needed to maintain the robust growth of renewable energy investment and production and will stimulate local economies. The industry needs an extension of these important incentives beyond 2008.
If you can't make a call, take action here:
https://secure2.convio.net/sierra/site/Advocacy?cmd=display&page=UserAction&id=537
TEXAS U.S. SENATORS:
Kay Bailey Hutchison
~~~~~~~~~~~~~~~~~~~~~~~~~
284 Russell Senate Office Building
Washington, DC 20510-4304
202-224-5922
202-224-0776 (FAX)
202-224-5903 (TDD).
email Kay Bailey Hutchison -
John Cornyn
~~~~~~~~~~~~~
517 Hart Senate Office Bldg.
Washington, DC 20510
Main: 202-224-2934
Fax: 202-228-2856
email John Cornyn -
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