FOR IMMEDIATE RELEASE
April 15, 2015
Contact: Laura Tierney
Email: [email protected]
Clean Energy Industries Call on Congress to Provide Stable, Long-Term Tax Policy
Washington, DC – In a letter submitted today, Business Council for Sustainable Energy (BCSE) President Lisa Jacobson, encouraged Congress to establish energy tax incentives that are more predictable, longer-term, and that provide a level playing field to increase our energy security and to ensure a clean and healthy environment.
The BCSE letter was submitted as part of the bipartisan effort initiated by Senate Finance Committee Chairman Orrin Hatch (R-Utah) and Ranking Member Ron Wyden (D-Ore.) to solicit ideas from members of the public on how best to overhaul the nation’s tax code to make it simpler, fairer, and more efficient.
“Stable tax policy provides predictable market conditions and enables clean energy businesses to grow, reduce costs and attract investment. Existing clean energy tax credits, such as the Production Tax Credit (PTC), Investment Tax Credit (ITC), and energy efficiency tax credits, have achieved substantial success and have allowed our nation to reap the significant energy, economic, national security and environmental benefits associated with utilizing clean energy resources while reducing costs for homeowners and businesses,” Ms. Jacobson said.
“Over the last five years the U.S. economy has continued its shift to the increased production and consumption of lower-carbon energy, and energy efficiency, renewable energy and natural gas are contributing to these rapid shifts in energy production, distribution and use. This has been driven in large part by federal tax policy, which has been as effective as any state or federal energy policy mechanism in helping to ensure an adequate, reliable, safe, clean supply of energy resources.
“BCSE believes that to make the tax code simpler, fairer, and more efficient the tax code should recognize the benefit of establishing energy incentives that are more predictable, longer-term, and that provide a level playing field to increase our energy security and to ensure a clean and healthy environment. Tax credits should be flexible … and should provide businesses and investors with more certainty by making the incentives long enough to be effective for a range of technologies and business cycles,” Ms. Jacobson said.
Download the full press release here.