Democrats are pressing Congress to renew clean-energy tax incentives that are set to expire at the end of this year.
In a letter sent to Senate Finance Committee Chairman
Max Baucus (D-Mont.) on Monday, 25 senators urged the
committee not to let tax credits expire for offshore
wind investments and cleaner vehicles, among others.
“If a broader tax code overhaul cannot be achieved by
year’s end, it is imperative that these key clean energy
tax incentives are renewed as soon as possible,” Sen. Ed
Markey (D-Mass.) said in a
statement. “These tax credits have helped scale up
production and drive down the cost of clean energy
technologies."
Markey added that the incentives will help consumers save on energy bills and reduce "harmful pollution."
In a similar letter, penned by the House Sustainable
Energy and Environment Coalition, six Democrats called
for extensions of the clean energy tax credits.
While typically approved on a routine basis, the House
Ways and Means and Senate Finance committees are more
reluctant to pass any such measure until broader tax
reform starts to go through.
Reps. Paul Tonko (D-N.Y.), Chellie Pingree (D-Maine) and
Jared Polis (D-Colo.) were a few of the House Democrats
that signed the letter.
The two letters sent by Democrats on Monday are the
latest calling for extensions to crucial tax incentives
for industry stakeholders.
Last week, the National Wildlife Federation, along with
230 other conservation, public health and
small-businesses organizations, sent a letter to
President Obama to extend offshore wind development.
“Today, the Southeast gets most of its electricity from
just three sources — coal, nuclear and natural gas. The
region urgently needs to diversify its energy supply,"
David Carr of the Southern Environmental Law Center said
in a
statement.
"Congress must extend the investment tax credit to allow
the region to tap into this clean, zero-cost fuel."
But with the release of Rep. Paul Ryan (R-Wis.) and Sen.
Patty Murray's (D-Wash.) budget deal, which passed the
House last week, hope for extending the tax credits
waned as none of the provisions were included.
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