Senate Finance Committee Ranking Member Ron Wyden, D-Ore., and 25 colleagues introduced legislation Thursday to overhaul the federal tax code to support an innovative, low-carbon economy. They said the Clean Energy for America Act would consolidate the current 44 energy incentives into three technology-neutral provisions that encourage clean electricity, clean transportation and energy efficiency. “The federal tax code is woefully inadequate to address today’s energy challenges. It’s a hodgepodge of temporary credits, anchored by advantages for Big Oil, that don’t effectively move us toward the goals of reducing carbon emissions or lowering electricity bills for American families. It’s time to kick America’s carbon habit, and that means a complete transformation of the tax code to reward clean electricity, transportation and conservation,” Wyden said. More >>
