Tucson lawmaker calls tax credits essential for growing industry
U.S. Rep. Gabrielle Giffords' provisions to expand and extend critical solar energy tax credits were passed by the House of Representatives today, part of legislation aimed at promoting investment in renewable energy and energy efficient technologies.
The Tucson lawmaker's legislation was a key element of the Renewable Energy and Energy Conservation Tax Act, a bill that will eliminate approximately $17 billion in subsidies for oil and gas companies, and use the savings to fund tax credits and other incentives for renewable energy.
The bill passed in a bipartisan 236 to 182 vote.
"This legislation comes at a crucial time for consumers in Southeastern Arizona and all across America," said Giffords. "Economic growth is declining, gasoline prices are rising and hard-working families are struggling to make ends meet. This legislation will help reduce our dependence on foreign oil, promote alternative sources of energy, create jobs, and tackle the very serious problem of global climate change."
Giffords' provisions promote solar energy by extending through 2016 the 30 percent solar Investment Tax Credit for individuals and businesses, and remove an existing barrier preventing public utilities from claiming the tax credit. Both goals were strongly recommended by the congresswoman's Solar Energy Advisory Council in its comprehensive report, "Solar Energy in Southern Arizona."
Speaking in support of the Renewable Energy and Energy Conservation Tax Act on the House floor this afternoon, Giffords said that the solar energy industry is one of the fastest growing in the country. She noted that just last week, plans were announced to build one of the world's largest solar power plants south of Phoenix - a facility that will generate enough power for 70,000 homes.
"Our nation cannot afford to have the sun set on these vital incentives," said Giffords, a member of the House Science and Technology Committee.
The Renewable Energy and Energy Conservation Tax Act is supported by a diverse group of businesses and organizations, including the American Institute of Architects, the American Council of Renewable Energy, DuPont, Greenpeace, Home Depot, the League of Conservation Voters, the National Association of Homebuilders, the National Wildlife Federation, the Sierra Club, and the Solar Energy Industries Association.
Click here to watch Congresswoman Giffords deliver her remarks and click here for a copy of "Solar Energy in Southern Arizona."