IDEA is supporting the Financing Our Energy Future Act (S.1841/H.R.3249).
U.S. Senators Chris Coons (D-DE) and Jerry Moran (R-KS) and Representatives Mike Thompson (D-CA-05) and Ron Estes (R-KS-04) have re-introduced bipartisan legislation to level the energy playing field by giving investors in a range of clean energy projects access to a decades-old corporate structure whose tax advantage is currently available only to investors in fossil fuel-based energy projects. The Financing Our Energy Future Act is a straightforward, powerful modification of the federal tax code that could unleash significant private capital by helping an emerging class of energy-generation and renewable fuel companies to form master limited partnerships, which combine the funding advantages of corporations and the tax advantages of partnerships.
Eligible technologies include combined heat & power, district energy, thermal energy storage and a range of related clean energy solutions in our sector. It will be very important for IDEA members, as organizations or as individual citizen constituents, to communicate with their Senators and Congressional representatives to urge support for Senate Bill 1841 or House Bill 3249 during the 2019 year-end legislative session.
The bill is endorsed by American Council for an Energy-Efficient Economy (ACEEE), the American Council on Renewable Energy (ACORE), Advanced Biofuels Business Council, the Algae Biomass Organization, the Alliance for Industrial Efficiency, the Alliance to Save Energy, Amazon, Biotechnology Innovation Organization (BIO), BPC Action, Carbon180, Carbon Capture Coalition, Center for Climate and Energy Solutions (C2ES), Ceres, Clean Air Task Force, Covanta Energy, Energy Storage Association, Growth Energy, International District Energy Association, Master Limited Partnership Association, the National Association of State Energy Officials (NASEO), National Hydropower Association, Natural Resources Defense Council (NRDC), National Wildlife Federation, Solar Energy Industries Association (SEIA), and Third Way.
The bill is co-sponsored by Senators Angus King (I-ME), Susan Collins (R-ME), Tom Carper (D-DE), Lisa Murkowski (R-AK), Martin Heinrich (D-NM), Joni Ernst (R-IA), Cory Gardner (R-CO), Debbie Stabenow (D-MI), Mike Crapo (R-ID), Michael Bennet (D-CO), Doug Jones (D-AL), and Pat Roberts (R-KS) in the Senate and by Reps. Welch (D-VT), Blunt Rochester (D-DE), Beyer (D-VA), Suozzi (D-NY), Sewell (D-AL), Boyle (D-PA), and LaHood (R-IL) in the House.
Read Press Release from Senator Coons