CRES Forum Encourages Congress to Support Tax Reform That Will Grow the Clean Energy Industry
Today, Citizens For Responsible Energy Solutions Forum (CRES Forum) sent a letter to the House Ways & Means Committee and a letter to the Senate Committee on Finance expressing support for tax reform legislation that would create a framework for long-term growth of the clean energy industry.
“Clean energy industries employ more than 3 million workers and contribute $200 billion to the U.S. economy annually. As Congress debates tax reform, it is imperative for Members to also consider provisions that support the clean energy industry, which works to diversify the national grid to make energy more affordable and reliable for American families. CRES Forum supports tax reform legislation that provides the level-playing field and stability necessary to maintain America’s competitive advantage in clean energy, grow the economy, strengthen national security and ultimately preserve our environment,” said CRES Forum Director of Policy and Advocacy Charles Hernick.
CRES Forum’s letter also recommends the following provisions to be included in the legislation:
- Maintain existing renewable energy Investment and Production Tax credits to assure near-term market certainty.
- Ensure tax credit parity for emerging renewables, nuclear, and carbon capture storage.
- Sunset tax credits for mature energy industries to assure a level playing field.
- Reduce the corporate tax rate to at least 25 percent so that U.S.-based firms are more competitive internationally.
- Move from a global to a territorial system to improve U.S. competitiveness.
CRES Forum is a 501(c)(3) non-partisan, non-profit organization committed to educating the public and influencing the national conversation about commonsense clean energy.