The Senate began debate Thursday on a Finance Committee economic stimulus package that would provide a one-year extension of renewable wind and solar tax credits.

The $161 billion stimulus plan passed by the Senate finance panel Wednesday is considerably different from the $145 billion package ironed out by the Bush administration and House leaders last week, and could lead to a skirmish between the two houses and delay a final package getting to President Bush.

Sen. Charles Grassley (R-IA), who proposed including the renewable tax extenders in the Senate stimulus plan, said he believes an economic stimulus plan, despite the differences between the two houses, will get to Bush’s desk by Feb. 15.

“Some key Republicans — including ranking member of the Senate Energy Committee, Pete Domenici (R-NM) — support the extension in the stimulus context, as it avoids the need to pay for these programs by raising taxes on the oil and natural gas industries,” said energy analyst Christine Tezak of Standford Group Co. However, Senate Minority Leader Mitch McConnell (R-KY) “still sees merit in merely passing the House version without amendment,” she noted.

Senate Majority Leader Harry Reid (D-NV) Thursday called for the Senate to quickly pass the finance committee package.

“It will be up to Senate Finance Committee Chairman Max Baucus (D-MT) to persuade fellow senators that he has the backing of House leadership for at least some of the amendments made in the Senate Finance Committee on Wednesday,” Tezak said. “This will be needed to overcome the concerns of those in the Senate that the House might not endorse their version and put the broader stimulus effort at risk.”

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