Congressman Eliot Engel is supporting the Renewable Energy and Energy Conservation Tax Act of 2008. The legislation seeks to curtail nearly $18 billion in tax subsidies for oil companies, and reallocate them for renewable energy and energy efficiency programs.
According to a statement from Engel’s office, the bill would “extend and expand tax incentives for renewable electricity, energy and fuel, as well as for plug-in hybrid cars, and energy efficient homes.”
President Bush opposes the legislation and has said he would veto it, claiming the bill “will lead to higher energy costs to consumers and businesses.”
Crude oil prices recently rose above $110 per barrel for the first time ever, leading analysts to predict that gasoline might soon reach as high as $4 per gallon. “I remain hopeful that President Bush will reconsider his veto threat and provide relief to all Americans at the gas pumps,” said Engel. —Graham Kates
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Welcome to the Norwood News, a bi-weekly community newspaper that primarily serves the northwest Bronx communities of Norwood, Bedford Park, Fordham and University Heights. Through our Breaking Bronx blog, we focus on news and information for those neighborhoods, but aim to cover as much Bronx-related news as possible. Founded in 1988 by Mosholu Preservation Corporation, a not-for-profit affiliate of Montefiore Medical Center, the Norwood News began as a monthly and grew to a bi-weekly in 1994. In September 2003 the paper expanded to cover University Heights and now covers all the neighborhoods of Community District 7. The Norwood News exists to foster communication among citizens and organizations and to be a tool for neighborhood development efforts. The Norwood News runs the Bronx Youth Journalism Heard, a journalism training program for Bronx high school students. As you navigate this website, please let us know if you discover any glitches or if you have any suggestions. We’d love to hear from you. You can send e-mails to norwoodnews@norwoodnews.org or call us anytime (718) 324-4998.