Bush Budget Calls for More Tax Incentives on Renewables & Energy Efficiency

Oil and natural gas research programs slashed, while renewable energy and efficiency programs received a slight funding boost.

Published: 08-Feb-2002

WASHINGTON (Reuters) - President Bush on Monday proposed a 2.7 percent increase in the Energy Department's discretionary spending for the 2003 spending year and the administration calls for significant tax incentives to encourage energy efficiency and use of renewable resources.

The Energy Department would get $21.92 billion in under the president's new budget, up $582.2 million from current levels.

Preliminary numbers released by the administration, the department's budget would have increased by 4.6 percent.

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