Senator John Ensign offered a compromise today that would encourage the development of renewable energy, expedite passage of the Housing bill and end concerns over “paying for” his amendment.

“We all agree that as a country we need to encourage the development of renewable energy,” said Ensign.  “It is becoming clear that Senate Democrats will not allow a vote on this important amendment and, as a result, are blocking solar, wind and other renewable projects from moving forward.  Today I proposed a compromise.”

Ensign’s compromise would reduce spending across the board, except for veterans, to pay for $8 billion of renewable energy tax incentives.  This would represent a tiny fraction of federal spending, approximately a twentieth of a percent reduction in the budget over 10 years.

“Failing to act soon on these critical renewable energy incentives will result in jobs and investment moving overseas,” said Ensign.  “That’s why I’m proposing this compromise fully paid for with spending reductions.  I’m hopeful that Senate Democrats accept this proposal because reducing our reliance on Middle Eastern oil needs to be a top priority.”

In April, the Senate voted 88 – 8 in support of adding Ensign’s renewable energy amendment to the Housing bill.  Despite this overwhelming bipartisan vote, House Democrats pulled out this provision that encourages the development of solar, wind and other renewable energies.  Democrats object because Ensign’s amendment is not “paid for” with tax increases.

According to recent estimates, Ensign’s renewable energy amendment would help create 116,000 jobs and result in $20 billion in economic investment.