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Companies Urge Senate to Pass 'Extenders' Package

JUN. 9, 2008

Companies Urge Senate to Pass 'Extenders' Package

DATED JUN. 9, 2008
DOCUMENT ATTRIBUTES
  • Institutional Authors
    A. O. Smith Corporation
    Abbott Laboratories
    Abengoa Solar
    Advanced Hydro Solutions
    Advanced Micro Devices, Inc.
    Advantage Capital Partners
    AEE Solar, Inc.
    AES Wind Generation
    Affymetrix, Inc.
    Agilent Technologies, Inc.
    Agility Design Solutions Inc.
    AGP
    Agrilectric Power
    Air Products and Chemicals, Inc.
    Akeena Solar
    Allergan, Inc.
    Alliant Energy
    AltaTerra Ltd.
    Alterra Bioenergy
    Altria Group, Inc.
    AMD
    Ameren Corporation
    Ameresco
    American Electric Power
    American Express Company
    American International Group, Inc.
    American Solar Electric, Inc.
    Apple Inc.
    Applied Material, Inc.
    Apricus
    AstraZeneca Pharmaceuticals LP
    AT&T
    ATAS International, Inc.
    ATEECO, INC
    Atlantic City Electric
    Autodesk, Inc.
    Avaya Inc.
    Avista Corporation
    AWR, Inc.
    BAE Systems, Inc.
    Ballard Power Systems
    Bank of America
    The Bank of New York Mellon Corporation
    Batesville Tool & Die, Inc
    BioEnergy Systems, LLC
    Biogen Idec
    Biomass One, LP
    BioSelect Fuels
    Bloom Energy Corporation
    Blue Sky Energy, Inc.
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2008-12739
  • Tax Analysts Electronic Citation
    2008 TNT 112-32
  • Magazine Citation
    The Exempt Organization Tax Review, July 1, 2008, p. 118
    61 Exempt Org. Tax Rev. 118 (July 1, 2008)

 

June 9, 2008

 

 

The Honorable Harry Reid

 

United States Senate

 

528 Hart Senate Office Building

 

Washington, DC 20510-2803

 

 

Dear Senator Reid:

The undersigned companies, representing a broad cross section of the U.S. business community and hundreds of thousands of U.S. jobs, request that the Senate take action during the current work period to extend tax provisions that expired at the end of 2007 or will expire at the end of 2008.

The House of Representatives last month passed a tax extenders package included in H.R. 6049, the Renewable Energy and Job Creation Act of 2008, which provides a good starting point for Senate consideration. In April, Senate Finance Committee Chairman Baucus and Senator Grassley introduced S. 2886 containing a tax extenders package, including a critical increase in the Alternative Simplified Credit to spur R&D jobs in the United States. Swift action is now needed by the Senate to enact a tax extenders package that will bring significant positive benefits to the U.S. economy.

Important tax provisions, including the R&D tax credit and the deduction for state and local sales taxes, have already expired. Others, including critical renewable energy incentives, the Subpart F active financial services and look-through rules, the New Markets Tax Credit, and the incentive for domestic film production, expire at the end of this year. Large tax increases would fall on American companies and American workers if the expired and expiring provisions are not extended.

Failure by Congress to move quickly to extend these important provisions will bring investment in renewable energy and energy efficiency projects to a standstill, make it more difficult for U.S. companies to invest in critical R&D projects in this country, reduce private sector investment in business and economic development projects in distressed areas, and force many U.S.-based financial institutions to suffer a massive tax increase at a time when they can least afford it.

Failure to act this summer on tax extender legislation will have significant negative consequences for the U.S. economy. The value of the legislation to the U.S. economy and the need to act quickly at this critical time should be the dominant considerations.

We look forward to working with you on this important legislation and urge action during Congress' June legislative session.

Sincerely,

 

 

A. O. Smith Corporation

 

 

Abbott Laboratories

 

 

Abengoa Solar

 

 

Advanced Hydro Solutions

 

 

Advanced Micro Devices, Inc.

 

 

Advantage Capital Partners

 

 

AEE Solar, Inc.

 

 

AES Wind Generation

 

 

Affymetrix, Inc.

 

 

Agilent Technologies, Inc.

 

 

Agility Design Solutions Inc.

 

 

AGP

 

 

Agrilectric Power

 

 

Air Products and Chemicals, Inc.

 

 

Akeena Solar

 

 

Allergan, Inc.

 

 

Alliant Energy

 

 

AltaTerra Ltd.

 

 

Alterra Bioenergy

 

 

Altria Group, Inc.

 

 

AMD

 

 

Ameren Corporation

 

 

Ameresco

 

 

American Electric Power

 

 

American Express Company

 

 

American International Group, Inc.

 

 

American Solar Electric, Inc.

 

 

Apple Inc.

 

 

Applied Material, Inc.

 

 

Apricus

 

 

AstraZeneca Pharmaceuticals LP

 

 

AT&T

 

 

ATAS International, Inc.

 

 

ATEECO, INC

 

 

Atlantic City Electric

 

 

Autodesk, Inc.

 

 

Avaya Inc.

 

 

Avista Corporation

 

 

AWR, Inc.

 

 

BAE Systems, Inc.

 

 

Ballard Power Systems

 

 

Bank of America

 

 

The Bank of New York Mellon

 

Corporation

 

 

Batesville Tool & Die, Inc

 

 

BioEnergy Systems, LLC

 

 

Biogen Idec

 

 

Biomass One, LP

 

 

BioSelect Fuels

 

 

Bloom Energy Corporation

 

 

Blue Sky Energy, Inc.

 

 

BMC Software

 

 

The Boeing Company

 

 

Bommer Industries, Inc.

 

 

Boralex Inc.

 

 

Borel Private Bank & Trust Company

 

 

BP America

 

 

Brookfield Renewable Power

 

 

Brunswick Corporation

 

 

Butler Sun Solutions

 

 

CA, Inc.

 

 

CAB Incorporated

 

 

Cadence Design Systems, Inc.

 

 

California Micro Devices

 

 

Case New Holland Inc.

 

 

Cassatt Corporation

 

 

Caterpillar Inc.

 

 

Central Vermont Public Service

 

Corporation

 

 

Cepheid Inc.

 

 

Certess, Inc.

 

 

CH Energy Group, Inc.

 

 

Chelan County Public Utility

 

District

 

 

The Chubb Corporation

 

 

Cisco Systems, Inc.

 

 

Citigroup, Inc.

 

 

Click Bond, Inc.

 

 

CMS Energy Corporation

 

 

Coca-Cola Company

 

 

Coherent, Inc.

 

 

Colmac Energy, Inc

 

 

ConAgra Foods, Inc.

 

 

Constellation Energy

 

 

Construction Navigator, Inc.

 

 

Con-Way

 

 

Coulomb Technologies

 

 

Covanta

 

 

Cummins Inc

 

 

Cymer, Inc.

 

 

Decker Energy International

 

 

Deere & Company

 

 

Deeya Energy, Inc.

 

 

Delmarva Power

 

 

Devine Tarbell & Associates, Inc.

 

 

DG Fairhaven

 

 

DIAB

 

 

DNV Global Energy Concepts

 

 

Dominion

 

 

The Dow Chemical Company

 

 

DTE Energy

 

 

Duke Energy

 

 

Eaton Corporation

 

 

EDS

 

 

Electronics for Imaging

 

 

Eli Lilly and Company

 

 

Empire Broadcasting Corp.

 

 

The Empire District Electric

 

Company

 

 

Energy Conversion Devices

 

 

Energy East Corporation

 

 

Energy Innovations

 

 

Energy Unlimited, Inc.

 

 

Engineering DataXpress, Inc.

 

 

Envision Solar International, Inc.

 

 

EPV Solar, Inc.

 

 

EV Solar Products, Inc.

 

 

Exelon Corporation

 

 

Extol International, Inc.

 

 

Fairchild Semiconductor

 

Corporation

 

 

FileMaker, Inc.

 

 

First Wind

 

 

FirstEnergy Corp.

 

 

FlowVision, LLC

 

 

Ford Motor Company

 

 

FPL Group

 

 

Fredon Corporation

 

 

GE Energy

 

 

GE Energy Financial Services

 

 

Genentech

 

 

General Electric Corporation

 

 

General Motors Corporation

 

 

Genworth Financial

 

 

Gilead Sciences

 

 

GMAC, LLC

 

 

Goldman Sachs

 

 

Goodrich

 

 

Grant County Public Utility

 

District

 

 

Great Plains Energy, Inc.

 

 

Green Earth Fuels, LLC

 

 

Green Mountain Power Corporation

 

 

Griffin Realty Advisors

 

 

groSolar

 

 

Harley-Davidson Motor Company

 

 

Hawaiian Electric Company

 

 

HCI Publications

 

 

Hewlett-Packard Company

 

 

Hitachi Global Storage Technologie

 

 

Honeywell

 

 

Hospira, Inc.

 

 

Hydra-Tech Pumps

 

 

Hydro Consulting & Maintenance

 

Services, Inc.

 

 

Hydro Green Energy, Inc.

 

 

i2 Technologies

 

 

iControl Incorporated

 

 

Imperium Renewables Inc

 

 

Independent Energy Systems

 

 

Innovalight

 

 

Intel Corporation

 

 

Inter-Island Solar Supply

 

 

International Business Machines

 

Corporation

 

 

Interstate Power and Light

 

 

Intevac, Inc.

 

 

Jan Medical

 

 

Jasper Design Automation, Inc.

 

 

JDS Uniphase Corporation

 

 

Johnson & Johnson

 

 

Johnson Controls

 

 

JPMorgan Chase & Co.

 

 

Juniper Networks, Inc.

 

 

Key Bank

 

 

KLA-Tencor Corporation

 

 

Kovio, Inc.

 

 

KPMG, LLP

 

 

Lam Research Corporation

 

 

The LeverEdge

 

 

LibraryWorld, Inc

 

 

Lincoln Financial

 

 

LM Glasfiber

 

 

Lockheed Martin

 

 

Louis Dreyfus

 

 

LSI Corporation

 

 

Lynguent, Inc.

 

 

Macrovision Solutions Corporation

 

 

Mainstream Energy Corporation

 

 

Maxim Integrated Products

 

 

McCormick & Company, Inc.

 

 

Mead and Hunt

 

 

MedImmune LLC

 

 

MEDRAD

 

 

Merck

 

 

Merrill Lynch

 

 

MetricStream, Inc.

 

 

Microsoft Corporation

 

 

Minnesota Power

 

 

Mitsubishi Electric

 

 

Monsanto Company

 

 

Mortenson Construction

 

 

MSE Power Systems, Inc.

 

 

National Grid

 

 

National Semiconductor Corporation

 

 

Nelson Energy

 

 

NetApp

 

 

NetLogic Microsystems, Inc.

 

 

New Leaf Paper

 

 

News Corporation

 

 

Northrop Grumman Corporation

 

 

NorthWestern Energy

 

 

Novellus Systems, Inc.

 

 

Novo Nordisk Inc.

 

 

oDesk Corporation

 

 

OGE Energy Corporation

 

 

Oracle

 

 

Organic Fuels

 

 

Otter Tail Corporation

 

 

Owens Corning

 

 

Pacific Winds Inc.

 

 

Palm, Inc.

 

 

Palmer College of Chiropractic

 

 

Pepco Holdings, Inc.

 

 

Pfizer

 

 

PG&E Corporation

 

 

Plan it Solar

 

 

PNM Resources, Inc.

 

 

Polycom, Inc.

 

 

Portland General Electric

 

 

PPG Industries

 

 

PPL Corporation

 

 

Precision Machine & Supply, Inc.

 

 

Primary Power International

 

 

Procter & Gamble

 

 

Progress Energy

 

 

Proto Services, Inc.

 

 

PSEG

 

 

Puget Sound Energy

 

 

Q-Cells

 

 

Rath, Young and Pignatelli, P.C.

 

 

Raytheon Company

 

 

Real Intent, Inc.

 

 

REC Solar, Inc.

 

 

ReGrid Power

 

 

Renegy, Inc.

 

 

Renewable Energy Group (REG)

 

 

Renewable Power Solutions Inc.

 

 

Rinnai Tankless Water Heater

 

Corporation

 

 

RMT -- WindConnect

 

 

Rockwell Automation

 

 

Rockwell Collins

 

 

sanofi-aventis U.S. Inc.

 

 

Sanyo

 

 

SCHOTT Solar, Inc.

 

 

Seagate Technology

 

 

SEALED AIR CORPORATION

 

 

Siemens Corporation

 

 

Sierra Pacific Resources

 

 

Simpson Investment Company

 

 

SkyFuel

 

 

SolarCity

 

 

SolarWorld California

 

 

SOLEC

 

 

SolFocus

 

 

Solvay Pharmaceuticals

 

 

Spansion, Inc.

 

 

Specialized Bicycles

 

 

Steel-Fab, Inc.

 

 

The Stella Group, Ltd.

 

 

Stellar Solutions, Inc.

 

 

Stratex Energy, LLC

 

 

Sun Edison

 

 

SunEarth, Inc.

 

 

SunPower Corporation

 

 

Suntech

 

 

SVB Financial Group

 

 

Synopsys, Inc.

 

 

Tagent, Inc.

 

 

Teradata Corporation

 

 

Tessera, Inc.

 

 

Texas Instruments

 

 

Textron, Inc.

 

 

Thermal Designs, Inc.

 

 

Third Sun Solar and Wind Power,

 

Ltd.

 

 

The Timken Company

 

 

TPI Composites

 

 

TransCanada Hydro Northeast, Inc.

 

 

Trimble Navigation Limited

 

 

Truseal Technologies, Inc.

 

 

Tupperware

 

 

UniSource Energy Corporation

 

 

United Solar Ovonic

 

 

United Technologies Corp.

 

 

VentureLoop, Inc.

 

 

Verari Systems, Inc.

 

 

Wachovia Corp.

 

 

The Walt Disney Company

 

 

Watt Stopper/Legrand

 

 

Westar Energy, Inc.

 

 

Western Renewables Group

 

 

Whirlpool Corporation

 

 

Wind Capital Group, LLC

 

 

Wisconsin Power and Light

 

 

Wood's Powr-Grip Co., Inc.

 

 

World Energy

 

 

Wyeth

 

 

Xcel Energy Inc.

 

 

Xerox Corporation

 

 

Xilinx, Inc.

 

 

Xoft, Inc.

 

 

Zimmer, Inc.
DOCUMENT ATTRIBUTES
  • Institutional Authors
    A. O. Smith Corporation
    Abbott Laboratories
    Abengoa Solar
    Advanced Hydro Solutions
    Advanced Micro Devices, Inc.
    Advantage Capital Partners
    AEE Solar, Inc.
    AES Wind Generation
    Affymetrix, Inc.
    Agilent Technologies, Inc.
    Agility Design Solutions Inc.
    AGP
    Agrilectric Power
    Air Products and Chemicals, Inc.
    Akeena Solar
    Allergan, Inc.
    Alliant Energy
    AltaTerra Ltd.
    Alterra Bioenergy
    Altria Group, Inc.
    AMD
    Ameren Corporation
    Ameresco
    American Electric Power
    American Express Company
    American International Group, Inc.
    American Solar Electric, Inc.
    Apple Inc.
    Applied Material, Inc.
    Apricus
    AstraZeneca Pharmaceuticals LP
    AT&T
    ATAS International, Inc.
    ATEECO, INC
    Atlantic City Electric
    Autodesk, Inc.
    Avaya Inc.
    Avista Corporation
    AWR, Inc.
    BAE Systems, Inc.
    Ballard Power Systems
    Bank of America
    The Bank of New York Mellon Corporation
    Batesville Tool & Die, Inc
    BioEnergy Systems, LLC
    Biogen Idec
    Biomass One, LP
    BioSelect Fuels
    Bloom Energy Corporation
    Blue Sky Energy, Inc.
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2008-12739
  • Tax Analysts Electronic Citation
    2008 TNT 112-32
  • Magazine Citation
    The Exempt Organization Tax Review, July 1, 2008, p. 118
    61 Exempt Org. Tax Rev. 118 (July 1, 2008)
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