US Democrats put forward GREEN Act to extend clean energy tax credits
The bill, first introduced in June 2020, is a comprehensive use of the tax code to combat the threat of climate change. The legislation, put forward again now that the Democrats have a majority, would expand the use of renewable energy to help reduce greenhouse gas (GHG) emissions.
Organisations supporting the bill include the American Biogas Council, Biomass Power Association, the US Green Building Council, and the American Council on Renewable Energy.
“Climate change is the most pressing issue of our time,” said Chairman Thompson, “and we must act boldly to address this existential threat. That is why I’m proud to introduce the GREEN Act, a sweeping bill that will use our tax code to help tackle climate change.
“This bill expands the use of renewable energy through Federal tax incentives that will promote clean energy technologies and faster deploy zero-emissions vehicles. These incentives will, in turn, shift our energy use and lessen our carbon footprint, dramatically reducing GHG emissions.
“I am proud to again have the support of Chairman Neal (Richard E. Neal) and all the Democrats on the Ways and Means Committee as we take this bold step forward in confronting climate change and passing on a better planet to the next generation.”
House Ways and Means Committee Chairman Richard Neal commented: “I’m proud once again to be an original co-sponsor of Subcommittee Chair Thompson’s GREEN Act, and am glad that all Ways and Means Democrats have added their support to the bill as well.
“Representative Thompson has been a consistent leader in the promotion of green initiatives, and I commend his re-introduction of this vital piece of legislation. Investing in renewable energy technologies and creating programmes to reduce our carbon footprint will help us add good, green jobs to the US workforce as we combat the climate crisis and dig our economy out of the COVID-19 downturn.”