Senator Ron Wyden, D-OR. Photo courtesy of Joe Frazier Photo.
SEIA commended Finance Committee Ranking Democrat Ron Wyden (D-OR) for reintroducing his legislation to provide a technology-neutral approach to incentives for clean energy.
According to the Hill, Wyden endorsed the idea “as an effort to simplify the United States’ tax code, including different tax breaks for different energy sources, some of which have expired.”
The Hill reports that at a hearing on energy tax policies, Wyden said, “It’s past time to replace today’s crazy quilt of more than 40 energy tax incentives with a modern, technology-neutral approach. The disparity in how the tax code treats energy sources—and the uncertainty it causes—has to end.”
The following is a statement from SEIA’s president and CEO, Abigail Ross Hopper:
“By providing long-term, steady federal energy tax policy, this legislation would offer the stability that all businesses in the renewable energy space need to grow.
“While SEIA’s highest legislative priority in tax reform remains maintaining the phasedown through 2021 of the residential and business solar investment tax credits enacted in the Omnibus Spending Act of 2015, we commend Senator Wyden for recognizing how crucial it is for America to maintain tax policies that are effective at creating jobs and producing clean, domestic energy.
“We see the Wyden bill as a major step forward and are heartened by this and similar efforts to devise a technology neutral approach to long-term clean energy tax incentives also being explored by Rep. Tom Reed (R-NY) in the House.”