Democrats Offer Bill On Solar Tax Incentive

A Group of Democrats, on the Tax-Writing House Ways and Means Committee, introduced a Bill, Friday, aimed at encouraging Clean-Energy Production, that they're seeking to include in a forthcoming Multitrillion-Dollar Spending Package.

The Legislation would allow Solar Companies to be Eligible for a Full-Value Production Tax Credit. Currently, this Incentive is Available for Wind and Geothermal Energy.

The Production Tax Credit (PTC) is a Federal Incentive that provides Financial Support for the Development of Renewable Energy Facilities. Companies that generate Electricity from Wind, Geothermal, and “closed-loop” Bioenergy, using dedicated Energy Crops, are eligible for a Federal PTC, which provides a 2.3-cent per kilowatt-hour (kWh) Incentive for the First Ten years of a Renewable Energy.

The Bill's Release comes as President Biden and Congressional Leaders, have made it a Top Priority to Pass a Spending Package, that includes Renewable Energy Incentives along with Funding for Child Care, Education, Health Care, and other Democratic Priorities.

Democrats Plan to Pass the Spending Package through, the Budget Reconciliation Process, to Sidestep the Need for any GOP Support in the Senate. The Democrats have only One Budget Reconciliation Process left, in this Budget Period.

The Sponsors of the Solar Bill say it should be Included in the Reconciliation Measure, because it would help Advance Biden's Goal of achieving Carbon-Free Electricity Production by 2035.

"Let's get this in the reconciliation package so we can help make the United States carbon free by 2035," Rep. Thomas Suozzi (D-NY, 3rd District), a Sponsor of the Solar Bill, said in a Statement. "This legislation makes that goal that much easier to attain."

Other Ways and Means Committee Members, who are backing the Bill include Reps.:

Nanette Diaz Barragán (D-CA, 44th District), who serves on the Energy and Commerce Committee.

Don Beyer (D-VA, 8th District)

Earl Blumenauer (D-OR, 3rd District)

Dwight Evans (D-PA, 3rd District)

Steven Horsford (D-NV, 4th District)

Dan Kildee (D-MI, 5th District)

Ron Kind (D-WI, 3rd District)

Jimmy Panetta (D-CA, 20th District)

A number of Environmental Groups support the Bill, including the Sierra Club, the League of Conservation Voters, and Citizens Campaign for the Environment.

The Ways and Means Committee is expected, to start considering its portion of the $3.5 Trillion Reconciliation Package, next week.

The Panel has yet to Release Text of its Portion of the Measure.

A Democratic Aide familiar with the matter, said that the Sponsors of the Solar Bill have been working with Ways and Means Committee Staff, who view it Positively.










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