AAPG GEO-DC Blog

House bill to boost green energy jobs

According to a brief story posted by The Hill yesterday, House Ways and Means Chair Sander Levin (D-Mich.) plans to introduce legislation next week that provides tax relief to renewable energy producers to stimulate job creation.

Levin held a hearing in April entitled, Energy Tax Incentives Driving the Green Energy Economy.

The purpose of the hearing was to “examine the effectiveness of current energy tax policy and identify additional steps that the Committee can take to ensure continued job growth in this area while at the same time advancing national energy policy focus on a discussion of current and proposed energy tax incentives.”

The committee hosted three panels of witnesses. The first panel consisted of Administration officials who discussed the President’s budget proposal. The next two panels included business, finance, NGO, and academic experts to provide their perspectives on energy tax policy.

Public concern about massive federal deficits is forcing lawmakers to come up with revenue or savings to offset new spending. According to the story, these new tax incentives would be offset by rescinding oil and gas tax preferences.