Congress is likely to tackle federal tax reform in 2017 and may consider new ideas. One proposal it should seriously consider is clean tax cuts—the application of supply-side tax rate cuts to investments that reduce the emissions of harmful pollutants. Cutting tax rates on income gained from clean investments such as energy efficiency improvements could incentivize investors to tap large amounts of private capital.
Over the weekend the 113th Congress largely wrapped up its work. It looks like this Congress will pass just over 200 bills, the lowest number since World War II. However, before leaving home for the holidays, Congress took action on several bills that will affect energy efficiency:
Washington, D.C.—Tax reform will provide Congress with many opportunities to promote energy efficiency and remove barriers through the tax code, according to Tax Reforms to Advance Energy Efficiency, a new report issued today by the American Council for an Energy-Efficient Economy (ACEEE). The report looks at several major changes to the tax code.
Washington, D.C.—Well-targeted energy efficiency tax incentives will result in significant energy savings and will get more energy-efficient products into the market faster, according to Steven Nadel, executive director of the American Council for an Energy-Efficient Economy, who testified before the U.S. Senate Finance Committee today. The Senate hearing focused on appropriate uses of the federal tax code for promoting investments in energy efficiency, particularly in the context of emerging discussions on tax reform.