Carper Statement on Restoration of Clean Energy Tax Incentives in Spending Deal
WASHINGTON – U.S. Senator Tom Carper (D-Del), top Democrat on the Environment and Public Works Committee,released the following statement on the inclusion of critical clean energy investment tax credits in the bipartisan deal to fund the government for the next two years. After a drafting error in legislation enacted in 2015 inadvertently excluded extensions for these credits, Senator Carper has fought tirelessly to ensure they were finally restored.
“I’ve long said that if we want to encourage businesses to invest in growing our country’s clean energy sector, we have to make tax credits for those industries predictable and reliable. We can’t ask these companies to research and develop new technologies or hire more workers if we can’t tell them what their yearly tax bill will be. To say I was frustrated the long-term extension of credits for fuel cells and other advanced energy technologies were mistakenly eliminated from the spending package in 2015 would be an understatement, but I had faith that hard work and perseverance would eventually result in victory. Incredible thanks are due to Leader Schumer and our Democratic colleagues, without whose help this feat could not have been accomplished.
“My state is home to hundreds of Delawareans who work in advanced manufacturing on the cutting edge of clean energy technology, which is supported by this federal investment. By supporting America’s growing renewable energy industry, we’re not just protecting and preserving our environment – we’re growing our economy and helping to save and create good-paying jobs, while strengthening our national security. That’s what I call a win-win-win.
“Unfortunately, this bill does not provide the certainty needed for all advanced energy technologies, like biodiesel and alternative-fueled vehicles. A retroactive tax credit for these technologies, while a helpful first step, still falls short in providing the incentives needed for investments in the future. I will continue to work to provide more certainty for these technologies moving forward.”