25 Mar '14, 6pm

The Wrong Answer to Tax Reform

The Wrong Answer to Tax Reform

For many years, and particularly since the Energy Policy Act of 2005, U.S. federal income tax policy has served a dual function as both tax and renewable energy policy. However, last month House Ways and Means Chairman David Camp (R-MI) released an expansive tax reform proposal in which a number of credits and deductions for renewable energy technology were recommended for repeal, effectively rewriting renewable energy policy by a proposed elimination of renewable energy from the federal tax code. While Representative Camp has attempted to frame the cuts in his “Tax Reform Act of 2014” as little more than wasteful spending and incentives in pursuit of a lower overall tax rate, in reality his proposal is a risky bid that not only stifles, but also imposes competitive barriers around America’s renewable energy advancement. Unlike traditional fossil fuel-based energy, renewab...

Full article: http://www.renewableenergyworld.com/rea/news/article/2014...

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