“Chairman Camp’s proposal is an important, if provocative, contribution to the tax reform discussion,” said Malcolm Woolf, senior vice president for policy and government affairs at Advanced Energy Economy, a national business association. “Unfortunately, zeroing out advanced energy tax credits would impede our progress towards building a high performing energy system that is essential to America’s long term economic prosperity.”
“Federal tax credits have played a vital role in advancing all energy resources over the past 100 years, and they remain critical to progress toward better energy solutions today,” added Woolf. “Energy is a fundamental underpinning of modern life, powering our devices and our economy. It cannot be left to chance. AEE supports energy tax reform that is technology neutral, provides stability and predictability, and uses market forces to drive better energy options. Tax policy should be aimed at driving progress.”
“In the meantime, we urge Congress to provide certainty for businesses and investors now by extending advanced energy tax credits such as the PTC, which expired at the close of 2013. This is no time to withdraw support for innovation and deployment of new energy resources while continuing to subsidize legacy energy. Congress must act if we want to continue to maintain and increase the U.S. share of the $1.1 trillion global advanced energy industry.”