Congress last week passed energy legislation costing $14.5 billion in tax credits and spending. Republicans hailed the bill for its free-market principles and support of less polluting energy sources. Democrats called it corporate welfare for the unclean and well-off fossil-fuel industries.
What does the bill do?
Basically it's a vast mosaic of tax breaks. Among the big winners: electric utilities (they'll save $3.1 billion over 10 years), the coal industry ($2.9 billion) and the oil-and-gas business ($2.7 billion). Consumers get tax credits for rooftop solar panels, $500 for home energy improvements and from $500 to $3,400 in credits for the purchase...
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