WASHINGTON – House Democrats are planning another effort to boost renewable energy.
A bill set for a vote this week would shift about $18 billion in tax breaks from oil companies to renewable energy.
With the price of oil at more than $100 a barrel, Democratic leaders say switching the tax breaks would reduce dependence on foreign oil.
The bill would extend and expand tax incentives for renewable energy, and for things like hybrid cars and energy-efficient homes, buildings and appliances.
In a statement, House Speaker Nancy Pelosi, Majority Leader Steny Hoyer and House Ways and Means Committee Chairman Charles Rangel said the bill would bring down energy prices and create jobs at the same time.
But the bill may not get past the House. Republicans blocked a similar measure in the Senate.