U.S. House Tax Vote Sends Mixed Signal to the $200 Billion Advanced Energy Industry Market
WASHINGTON, D.C., Nov. 16, 2017 — Today, the House of Representatives passed a tax reform package that directly impacts many advanced energy technologies. In response to its passage, AEE issued the following the statement:
“The House of Representatives is sending a mixed signal to the $200 billion advanced energy industry. While we are encouraged that the House is reducing the corporate tax rate and finally providing equal treatment for technologies like fuel cells, combined heat and power, geothermal, and advanced nuclear, today’s vote also completely undermines market certainty for the wind, solar and electric vehicle businesses, putting billions of dollars of investment and tens of thousands of jobs at risk” said Malcolm Woolf, Senior Vice President of Policy for Advanced Energy Economy.
“The advanced energy industry proactively worked with Congress in 2015 to pass a tax reform package that phased out tax treatment for wind and solar, and it’s unfortunate to see the House walk back on that deal, while retaining permanent subsidies for other technologies. We look forward to working with the Senate and House to ensure that a final tax bill is a pro-growth plan for the advanced energy industry that already employs 3 million people across our nation,” said Woolf.
“As Congress focuses on tax issues to address business growth, we would also encourage them to stop attacks on competitive markets as FERC considers proposed support for uncompetitive power plants. This Perry Energy Tax would undermine the advanced energy industry and drive up energy costs for consumers,” added Woolf.
About Advanced Energy Economy
Advanced Energy Economy is a national association of businesses that are making the energy we use secure, clean, and affordable. Advanced energy encompasses a broad range of products and services that constitute the best available technologies for meeting energy needs today and tomorrow. AEE’s mission is to transform public policy to enable rapid growth of advanced energy businesses. AEE and its State and Regional Partner organizations are active in 27 states across the country, representing more than 1,000 companies and organizations in the advanced energy industry. Visit AEE online at www.aee.net.