US Congress Urged To Improve Tax Regime For Renewable Energy

[jpak]

http://www.tax-news.com/asp/story/US_Congress_Urged_To_Improve_Tax_Regime_For_Renewable_Energy_xxxx26870.html

Senate Finance Committee Chairman Max Baucus (D-Mont.) has told that Congress that it must be more creative when crafting tax incentives to promote renewable energy.

At a hearing of the committee entitled, “Clean Energy: From the Margins to the Mainstream,” witnesses testified that the existing tax system provides little assurance that long-term investment in clean energy will be a good bet, and that Congress should work to change that.

Currently, tax incentives for the development and use of renewable energy technologies expire and must be extended every few years.

“This country is in an energy box, hampered economically, politically, and environmentally by our dependence on foreign oil and on other traditional fuels. So we have to think out of the box on renewables,” said Baucus. “It’s clear that stop-and-start tax policies aren’t the best method to promote clean and green energy. We need to lay the groundwork now for a better way.”

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[DCKit]

1. Considering that distributed, renewable energy just might save our collective ass

Yeah, they'd better get on it.