The Senate Finance Subcommittee on Finance, Energy, Natural Resources & Infrastructure July 31 discussed changing the federal tax code to provide more financial assistance\/leverage to renewables development. \tSubcommittee chair Sen. Debbie Stabenow (D-MI) noted that the fossil fuel industry in the U.S. reported $112 billion in profits last year. \u201cIs that appropriate\u201d to continue tax breaks, she asked. \t\u201cIt\u2019s important to extend [master limited partnership] tax breaks to combined heat & power and geothermal,\u201d said, Sen. John Cornyn (R-TX). He said that a change in tax law could lead to a \u201cbroader and deeper investment pool.\u201d At the same time, he noted that the Democratic administration is passing on the cost of energy policies to consumers. \tBasically, the forum was for witnesses on both sides of the aisle. Both environmental organizations and industry said that the government should cut the cost of capital for renewable investments as it\u2019s done through the tax code for traditional power.