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Bailout bill includes Oregon timber payments

10:44 AM PDT on Friday, October 3, 2008

Associated Press

WASHINGTON (AP) -- A financial rescue plan approved by Congress includes a plan to extend a program that pays rural counties hurt by federal logging cutbacks.

The bill also will allow Washington state residents to continue deducting state sales taxes on federal income tax returns. And it extends tax credits for renewable energy such as solar, wind and hydropower, as well as biomass and geothermal electricity.

Senators inserted the timber provision as one of several sweeteners to attract more votes for the bailout bill, which was defeated earlier this week in the House. The House approved the revised version of the bill on Friday, two days after the Senate.

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