Wednesday, March 12, 2008

Going "Green" With Borrowed $850 Million

The Pennsylvania House of Representatives passed the Alternative Energy Investment Act Tuesday, which borrows $850 million to put the state ahead in energy conservation and "green" business development. The Senate passed its version last year, with a plan to borrow only $500 million.
Pittsburgh-area representatives agreed that a large financial commitment is needed to effectively spark cleaner energy resources, provide consumer rebates, and fund research. Opponents to the bill say it will put the state too far in debt, and grants and contracts will be awarded according to connections in the government. Representative Dan Frankel says the state's open records and public process will help prevent that from happening.
The House bill was sent to the Senate for approval, and they will have to come to a compromise if both cannot agree on one of the already passed versions.

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