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House bill would extend wind, other alternative energy tax breaks
Credit: By Timothy Cama | The Hill | 09/19/14 | thehill.com ~~
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Two House Democrats introduced a bill Friday to bring back a number of expired tax credits meant to incentivize alternative energy and energy efficiency.
The bill would extend for two years tax breaks for producing wind energy, selling biodiesel, buying alternative fuel vehicles, installing energy efficient technology in homes and other credits that expired last year.
“Like all businesses, the wind energy sector needs stability and predictability so long term investments and business decisions can be made,” Rep. David Loebsack (D-Iowa) said in a statement.
“For our nation to move towards energy independence and continued job growth, we need to prioritize clean energy like wind and act immediately to pass this extension of the [production tax credit],” he said.
The legislation would also allow the solar power industry to take advantage of some new tax credits for infrastructure under construction, which the sponsors said was an attempt to put solar on a level playing field with wind.
“Making sure these energy sources are on an even playing field with the fossil fuel industry is essential to lowering carbon emissions, creating a cleaner environment, and creating good, non-exportable American jobs,” Rep. Earl Blumenauer (D-Ore.), the other sponsor, said in the statement.
Many of the tax breaks in the bill were included in a package the Senate Finance Committee passed earlier this year. But the bill was never brought to the Senate floor for a vote.
Senate Majority Leader Harry Reid (D-Nev.) promised to bring the energy measures to the floor before the end of the year.
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