Bingaman, Snowe Introduce Energy Tax Incentives Package
Sens. Jeff Bingaman (D-N.M.) and Olympia Snowe (R-Maine) have introduced an energy tax incentives bill that they are urging the Senate to pass before the end of the year. The bill includes tax incentives for homes and businesses that invest in energy efficiency, manufacturers of clean energy technology and developers of energy storage technology, which is essential to prove the viability of intermittent renewable energy sources like wind and solar.
In a statement, Bingaman said:
We must continue to ensure that the Tax Code contains well-designed incentives that will help us transition to an energy efficient economy. Our bill will significantly expand domestic clean energy manufacturing; help American businesses and families reduce their energy use and dependence on fossil fuels; and creat thousands of jobs. This is a common-sense, bipartisan proposal that deserves priority consideration.
Here’s a summary of the bill’s provisions.