The Clean Energy Buyers Association (CEBA) today commented on the U.S. House Ways and Means Committee’s energy credit provisions in its federal tax package draft bill:

“Preserving the federal technology-neutral energy tax credits is crucial for supplying the energy needed to serve the 21st century industries of the United States and to drive American innovation and energy dominance.  As electricity demand rapidly increases now and in the years ahead, we need more options, not less,” said Rich Powell, CEO of the Clean Energy Buyers Association. “Moreover, some of America’s largest companies are attempting to advance critical new technologies like geothermal and advanced nuclear energy, but those technologies will not move forward if these tax credits are phased out.

“The bill proposed today takes critical tax credits off the table that support American energy independence, economic development, and jobs. These credits do not pick winners or losers. Preserving the tax credits will put downward pressure on electricity price inflation, keeping electric bills 8% lower on average for American households and businesses. They will also help the United States win the global races for artificial intelligence, advanced manufacturing, and other critical industries by providing for more energy and adding diversity to our system.”

CEBA recognizes the enormous pressures the U.S. House Ways and Means Committee is under to improve the nation’s tax policy and control our national debt, and we thank them for their efforts. The bill recently introduced by Representatives Jen Kiggans and David Valadao, Certainty for Our Energy Future Act, is a far better option for dealing with energy tax credits.