Language included in Chairman Wyden’s Clean Energy for America Act
WASHINGTON, D.C. – U.S. Senator Tom Carper (D-Del.), senior member of the Senate Finance Committee and Chairman of the Environment Public Works Committee, today applauded the Finance Committee’s approval of three energy tax bills authored by Carper in a markup of the Clean Energy for America Act —wide-ranging legislation cosponsored by Carper that would overhaul the federal energy tax code, create jobs and combat climate change. This bill would consolidate current energy tax incentives into emissions-based, technology-neutral provisions that incentivize clean electricity, clean transportation and energy efficiency.
As amended today by the Finance Committee, this bill now includes language from three bills authored by Sen. Carper: the Securing America’s Clean Fuels Infrastructure Act; the Save America’s Clean Energy Jobs Act; and the Clean H2 Production Act.
Carper released the following statement regarding today’s markup:
“Combating the existential threat of climate change is one of the most pressing tasks before us as a government, but our federal tax code does not yet reflect that urgency,” said Carper. “The energy tax measures added on to the Clean Energy for America Act and passed by the Finance Committee today will cut carbon emissions, create high-paying jobs and help the U.S. lead the world in clean energy innovation. I have long been an advocate for a technology-neutral approach to emissions reduction, and am excited that this bill will incentivize the private sector to cut the pollution fueling the climate crisis.”
Carper continued, “I’m proud that three bills I introduced recently were added to this package, including legislation boosting clean hydrogen energy production, a bipartisan bill to promote construction of electric vehicle charging stations and a measure to help the clean energy industry recover from the pandemic-driven economic downturn. I want to thank Chairman Wyden and Ranking Member Crapo for today’s markup on this important legislation, and I look forward to working with my colleagues in the House to ensure this legislation makes it to the finish line.”
More information on Carper’s three bills now included in the Clean Energy for America Act:
The Securing America’s Clean Fuels Infrastructure Act, introduced with Sen. Richard Burr (R-N.C.), would promote investments in clean vehicle infrastructure, such as electric vehicle charging stations and hydrogen refueling stations for fuel cell vehicles, by improving and expanding the Alternative Fuel Vehicle Refueling Property Investment Tax Credit (ITC), commonly referred to as “30C.” More info on the legislation can be found here.
The Save America’s Clean Energy Jobs Act, introduced with Sens. Sheldon Whitehouse (D-R.I.) and Martin Heinrich (D-N.M.), would help the clean energy industry create good-paying jobs and recover from the COVID-driven economic downturn by allowing for temporary refundability of section 45, 45Q, and 48 investment and production tax credits, which incentivize private development of renewable energy projects such as solar, wind, fuel cells, and carbon capture and sequestration. This will enable clean energy companies to bypass frozen tax equity markets and access these tax credits directly, which in turn will help get stalled projects off the ground and people back to work. More info on the legislation can be found here.
The Clean H2 Production Act boosts clean hydrogen production by creating tax credits to foster the development of clean hydrogen to create jobs, contribute to energy independence and help tackle climate change. More info on the legislation can be found here.