Well, the Senate, after Republicans blocked a vote eight times previously, passed a tax package yesterday that includes the extension of the various credits for renewables. See this from Reuters and this from Bloomberg. The vote was a breathtaking 92-3. The draft legislation does pare away billions in oil and gas industry tax breaks in order to pay for the renewables.
The more high-profile component of the Senate package, though, is a one-year reprieve from the alternative minimum tax. This impacts 20 million people. This part is not "paid for" , that is to say the tax measure is not offset by an increase in revenue somewhere else. In House takes up Senate-passed tax break package from the AP, House Majority Leader Steny Hoyer said " in keeping with our commitment to fiscal responsibility" House Democrats will introduce a bill that does not add to the national debt.
So now it's anybody's guess what'll happen. Maybe behind the scenes, this has all already been worked out between the leadership in both houses. Or maybe it hasn't. Congress works in mysterious ways. Stay tuned.
