On January 22, 2009, a House panel approved the spending of an estimated $54 billion in economic stimulus funds for environmentally friendly energy projects, including improving the transmission of wind-generated electricity and expanding conservation projects.

The energy plan, approved 34-17 by the House Energy and Commerce Committee, includes about $54 billion in spending for power lines, efficiency projects, and insulating low-income homes, according to a summary provided by House Speaker Nancy Pelosi. The measure would provide $8.4 billion in renewable- energy loan guarantees.

The energy provision is a portion of the $825 billion economic stimulus measure. The broader legislation includes $550 billion in new government spending and $275 billion in tax cuts.

It appears that Barack Obama and the new Administration are pushing to make Barack Obama’s “New Energy For America” campaign a reality.

source: Bloomberg News

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