Tax relief coming in global warming bill

May 20, 2008

Maybe it’s because the WeatherBug icon on my PC tells me it’s 102 degrees outside, but this item certainly caught my eye.

Thermometer_hot
CQ Politics
reports that a new version of Senate global warming legislation would provide
billions in tax relief to help consumers pay their energy
bills.

Of course, this is just the first of a long legislative process.

Although Barbara Boxer (D-Calif.) is drafting a a measure that would include $800 billion through 2050 for a "tax relief fund" to
help "consumers in need of assistance related to energy costs," it won’t go to her colleagues for consideration until early June.

And details of the tax relief will have to be spelled out by the Senate Finance Committee.

CQ Politics also notes that despite support from Boxer’s Environment and Public Works Committee, the bill is likely to face an uphill battle for enough votes to stave off the expected filibuster.

The reason for the opposition? Both Democratic and Republican Senators are worried about how the bill’s cap on greenhouse-gas emissions would affect coal,
petroleum, natural gas and manufacturing industries in their states.

Such potential defeat notwithstanding, I’m still holding out hope.

When mid-May temperatures are already triple digits by some measurements (our thermometer in our east-facing backyard reads 99, while the one on the covered portion of our patio says 94), a lot of folks are looking for any respite, from both the heat and associated costs.

And I fear that if things are this hot now, we could be looking at some more record-breaking A/C bills by the time July and August roll around.

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We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 26, millions who were expecting refunds filed immediately. Most of us got our returns to the Internal Revenue Service by April 15. But plenty of taxpayers also got extensions. They are looking at an Oct. 15 filing deadline.

Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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