House approves energy bill with large tax breaks, daylight savings time extension

House approves energy bill with large tax breaks, daylight savings time extension

[JURIST] The US House of Representatives [official website] on Thursday approved a massive energy plan that provides huge tax breaks and subsidies to energy companies, but is predicted to only modestly reduce gas prices and US reliance on oil. The 1,725-page bill [text], finalized after weeks of compromise between the House [JURIST report] and Senate [JURIST report], would provide $14.5 billion in energy tax breaks, much of it to companies who deal in traditional sources of energy. It also provides funds for promoting renewable energy sources and creating new technologies, measures to aid the nuclear power industry and a provision effective 2007 to extend daylight savings time by one month (starting it three weeks early on the second Sunday in March, and extending it by one extra week to the first Sunday in November).The bill was approved 275-156 [roll call] with a Senate vote likely to come Friday. AP has more.