Rep. Tom Reed is leading a bipartisan effort to enhance job creation and encourage U.S. energy security. The bipartisan bill would extend tax provisions that make it easier for companies to develop energy technologies, such as fuel cells, geothermal combined heat and power systems and wind turbines.
“We care about ensuring that we can produce reliable, clean and affordable energy that our nation needs right here at home. By implementing common sense policies like this one, we can ensure that this can be accomplished,” said Reed. “As we move forward with tax reform, having a structure that encourages this kind of development creates the quality, family-sustaining jobs that people throughout our country deserve, all while helping meet the energy demands of today and tomorrow. It’s a win-win.”
The Technologies for Energy Securities Act will phase out the tax credit to bring new technologies to market.
“Clean, renewable energy is not only good for our environment, it’s good for our economy. These tax credits would encourage industry leaders to develop new technologies, growing our workforce and ensuring America’s energy independence. I am proud to work with Rep. Reed to help create jobs and grow our fuel cell, wind turbine, and other renewable energy sectors,” stated Thompson.
The proposal comes as part of Reed’s efforts to make sound changes to our tax code in regards to energy. The plan is designed to implement and support policies that would create competition with international sources of energy. The plan can be found on Reed’s website, www.Reed.House.gov.
