United States: Financial crisis threatens green tax credits in U.S.

Section: Business News - The Wall Street meltdown may have claimed another victim -- the extension of federal tax credits vital to Silicon Valley's green tech industry, it was reported on Wednesday (October 1, 2008).

Green tech entrepreneurs feared that the extension of federal tax credits would be shoved aside as Congress fixates on the proposed 700-billion-dollar Wall Street bailout plan, the San Francisco Chronicle said.

Congress tried to reach agreement Monday on the tax credits as part of a larger package of tax measures but couldn't decide how to pay for them.

Developers of big wind farms and solar installations rely on tax credits to help …