How the Bailout Benefits the Environment

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Everyone knows the $700 billion bailout package is a boon for Wall Street. But it turns out green consumers stand to benefit too. According to Fortune and the Environmental News Network, the legislation includes a number of perks for the eco-friendly, including:

—A 30 percent tax credit for homeowners who install solar panels after December 31, 2008.

—A $1,000-per-kilowatt tax credit for homeowners who install wind power, with a cap of $4,000.

—Tax credits of $3,000 or more for the purchase of fuel-efficient, plug-in hybrid vehicles.

—Incentives to grow renewable fuels such as biodiesel and renewable diesel at home.

The bill also supports big businesses that go green. A 30 percent solar investment tax credit has been extended to 2016, and utility companies including PG&E and Southern California Edison can now claim this credit for large-scale solar power projects.

—Nikki Gloudeman

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Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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