If you've no account register here first time
User Name :
User Email :
Password :

Login Now

House Ways & Means Okays Energy Tax Credits

tax2.jpgThe U.S. House Ways and Means Committee recently approved $20 billion in energy tax credits and related financial incentives as part of the Obama administration’s plan to revive the American economy, reports Reuters.

The proposal, which includes $550 billion of government spending and $275 billion of tax cuts, could be approved by mid-February.

The U.S. House of Representatives is also considering making the credits refundable. Instead of saving money on taxes, renewable energy investors would get a direct payment equivalent to the tax credit through a grant program at the Department of Energy, writes United Press International.

Last year, Congress extended the Investment Tax Credit for another eight years as part of the $700 billion stimulus package. The duration of its sister program (Production Tax Credit) was also extended.

In a separate article, Reuters also notes that the administration’s proposed $825 billion stimulus could benefit U.S. manufacturers including General Electric and United Technologies, though they will likely not feel any effects until later this year.

Environmental Leader Product and Project Awards 2017
Sponsored By: Environmental Leader

  
Operationalizing EHS Management: Bridge the Gap from Strategy to Execution
Sponsored By: LNS Research

  
Just the Facts: 8 Popular Misconceptions about LEDs & Controls
Sponsored By: Digital Lumens

  
The Corporate Sustainability Professional's Guide to Better Data Management
Sponsored By: Urjanet

  

Leave a Comment