Energy bills: House passes its version, Senate revamps its proposal

September 17, 2008

The House did OK an energy bill Tuesday, but the prospect for final passage of the measure is still up in the air. The complications:

The Senate has its own energy bill, which could be derailed by a filibuster. However, to help push the energy package through, Senate Finance Committee leaders have added the extension of other, expired non-energy tax breaks and a one-year AMT patch, blogged about here, as well as disaster relief, to the mix. Details in this press release.

Congress plans to hang around D.C. for just two more weeks before
breaking for the election.

A lame-duck session to reconcile any differences in the two bills is not a certainty.

If the House version does ultimately prevail, the White House has threatened to veto it.

For the moment, though, the House has completed yet again an energy bill, with accompanying taxes and tax breaks. Details on the House version are available from my previous post and:

Share:

The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic.

TAX-SAVVY WAYS
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill.

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings.

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year.

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Credits/Deductions

Disasters

Family

Filing and Paying Taxes

Politics/Laws

Refunds

State Taxes

Tax Brackets/Inflation

Tax Tips

Comments

Leave the first comment