FOR IMMEDIATE RELEASE
July 25, 2012
Contact: Colbie Holderness
Email: [email protected]
Clean Energy Businesses Urge Extension of
Clean Energy Tax Measures in H.R. 8
Washington, DC - In a letter to the leadership of the U.S. House or Representatives, the Business Council for Sustainable Energy (BCSE) urged Congress to continue its long-standing support for a broad array of clean energy tax measures as part of its consideration of H.R. 8, "The Job Protection and Recession Prevention Act of 2012" later this month.
"Immediate enactment of legislation to extend all expiring, and expired clean energy tax measures will spur investment, create jobs and diversify our nation's energy portfolio to power the U.S. economy," BCSE President Lisa Jacobson stated.
In addition, the Council's letter directed Congress to avoid creating any disparity between tax rates that affect U.S. businesses. As an example, H.R. 8 keeps the dividend income distributions for millions of Americans intact, as well as maintains parity with other tax policy such as capital gains tax rates. This ensures both access to capital and provides the foundation to put more Americans to work. Further, the letter noted that continuing tax-exempt bonding authority for not-for-profit municipal utilities will ensure continued investments in clean energy infrastructure.
"Smart federal tax policy has assisted the natural gas, renewable energy and energy efficiency sectors in adding hundreds of thousands of jobs to the U.S. economy," said Jacobson. For example, "the shale gas revolution that is providing so many benefits across the United States was supported, in part, by federal tax incentives."
The letter acknowledged that the Council and its members have been gathering input from experts on how clean energy can fit into comprehensive tax reform and reaffirmed that the Council is willing to engage in discussions about how to structure comprehensive tax reform, if and when Congress moves legislation.
"Until Congress reforms the tax code, however," Jacobson said, "it is imperative that Congress extend expiring, and expired, clean energy tax incentives."
For a copy of the Council's letter, please go here.