U.S. House Democrats Release Energy Tax Incentives Package
Last week, U.S. House Democrats released their energy tax incentives proposal known as the Growing Renewable Energy and Efficiency Now Act (GREEN Act, H.R. 7330) which is similar to the energy tax provisions included in the Democrats’ infrastructure legislation.
The 94-page bill includes tax credit extensions and expansions for low-emission energy sources.
Wind, solar and biodiesel blender’s tax credits would be extended, as would the tax credit for carbon dioxide capture and storage, and energy efficiency measures for homes and businesses.
The GREEN Act would also raise limits on the electric vehicle tax credit as well as charging infrastructure.