Washington (Platts)--5Feb2008

The US Senate is set to act on an economic stimulus package Wednesday
that includes $5.5 billion in tax credit extensions for renewable energy.

Senate Majority Leader Harry Reid of Nevada filed a procedural motion
Monday that would allow the bill to come to the floor as early as Tuesday
night, but Reid spokesman Rodell Mollineau said it was more likely to come up
for a vote on Wednesday.

Two Democratic senators and one Republican are occupied Tuesday with the
presidential primary campaign, and would be absent for a Tuesday vote.

The first vote would replace a House of Representatives-passed economic
stimulus package drafted by Speaker Nancy Pelosi, Republican Leader John
Boehner, and US Treasury Secretary Henry Paulson, with the Senate Finance
Committee's package.

The Senate package weighs in at $158 billion for 2008 compared with the
House bill's estimated $150 billion price tag. In addition to the energy tax
package, the Senate version contains modifications that are not popular with
many Republicans, like unemployment insurance extensions. However, at least
five Republican senators have said they will vote for the package.

When the stimulus package is brought to the floor, Senate Republican
leaders have signaled they will use Senate rules to require a 60-vote margin
for passage.

If Senate Democrats meet that threshold, they are less likely than they
were last week to try to add a series of additional amendments to the measure,
including $1 billion for low income heating assistance, an aide said.

--Jean Chemnick, jean_chemnick@platts.com