On Wednesday, May 21, Carolyn McCarthy enthusiastically voted for the passage of H.R. 6049-the Renewable Energy and Job Creation Act of 2008. The bill will help expand the production and use of renewable energy, create jobs across the country and provide tax relief to middle class families.

"It is imperative that we find ways to incentivize Americans' use of renewable energy sources and work toward creating policies that support the burgeoning renewable energy industry," McCarthy said, adding, "By passing this legislation we will help American families deal with skyrocketing energy costs, while making important investments in our future."

The bill will be particularly helpful to New Yorkers by improving the New York Liberty Zone and providing important tax credits to the State of New York for investment in transportation infrastructure projects in connection with the New York Liberty Zone in lower Manhattan.

Additionally, the Renewable Energy and Job Creation Act would increase the production of renewable fuels and encourage energy efficiency by extending and expanding tax incentives for the use of renewable electricity, plug-in hybrid cars, and energy-efficient homes, buildings and appliances.

Another component of the bill that will offer relief to American families is the expansion of eligibility for the $1,000 refundable child tax credit, which will allow homeowners who do not itemize their taxes to deduct up to $700 of property taxes in addition to their standard deductions.

Finally, in an effort to encourage business and innovation, the Renewable Energy and Job Creation Act extends the research and development tax credit and cuts taxes for millions of Americans including teachers, college students and families in states with no income tax.