Senate Report Strengthens Case For Energy Efficiency’s Bipartisan Role In Tax Reform
Statement by the Alliance to Save Energy's Kateri Callahan
“The Senate Finance Committee’s new report on reforming our tax system is an encouraging sign energy efficiency can be a bipartisan building block in the coming tax reform debate.
“Advancing efficiency is something both sides agree is a positive step for our economic and energy security. With this common-sense agreement, energy efficiency tax expenditures can play a key role in the bipartisan reform effort, and emerge even stronger because of it.”
“Among the committee suggestions, the Alliance has endorsed a new performance-based tax credit for residential energy-efficient retrofits. We also support the intent of proposals that allow deductions for energy-efficient commercial buildings, improve the incentives to retrofit existing homes, and spur consumer purchases of more efficient vehicles.
“One reform that the committee did not highlight as a priority is adjusting commercial and industrial depreciation schedules for energy-efficient technologies. The Alliance submitted comments to the House Ways and Means Energy Tax Reform Group in April to advance depreciation schedule reform. We hope the Senate Committee will broaden its scope to include this valuable tool as well.
“We look forward to working with the committee and lawmakers on both sides of the aisle to turn these priorities into laws that will have measurable results in businesses, homes and communities across the country.”
- Michael Timberlake; (202) 448-8758