1984 Scorecard Vote
Energy conservation is one of the cheapest, quickest and cleanest ways to meet the nation's energy needs. It reduces our dependence on foreign imports, cuts down on pollution, conserves natural resources and reduces environmental damage from mining, drilling, and other forms of energy development.
The vote is on the Packwood motion to end the current 15% income tax credit for energy conservation improvements in the home. This tax credit is very small compared to the massive write-offs given to energy producers. Residential conservation improvements save homeowners money on fuel costs in the long run, but there is a high initial investment which many people could not afford without the 15% tax credit.
The Department of Energy agrees that tax credits are a cost-effective way to reduce energy consumption, costing $10 per barrel of oil equivalent saved, compared to the nearly $30 cost of purchasing a barrel of oil. A study of California's 40% solar energy and energy conservation tax credit concluded that it provided "a boost to the state's economy."
Packwood motion rejected 38-55, April 12, 1984. NO is the pro-environmental vote. (Packwood motion to table Cohen amendment to Dole amendment to H.R. 2163, the Miscellaneous Tarriff, Trade and Customs bill.) The tax credits therefore survived in 1984, but they will expire automatically on October 1, 1986 unless they are extended by Congress.