On Thursday, House Ways and Means Select Revenue Measures Subcommittee Chairman Mike Thompson (CA-05) and 47 Members of Congress announced the introduction of Thompson’s Growing Renewable Energy and Efficiency Now, or GREEN Act.
This legislation, the principles of which were first unveiled last November, works to tackle the threat of climate change through the tax code.
Thompson’s office said it includes an unprecedented extension and expansion of renewable energy use to help reduce greenhouse gas emissions
“The threat of climate change is the most pressing issue of our time. Today we take a major step forward in enacting comprehensive climate policy as we introduce the GREEN Act,” said Thompson. “This bill uses our tax code to expand the deployment of renewable energy by extending and expanding the federal tax incentives to promote clean energy technologies and supports widespread deployment of zero-emissions vehicles. All this is an investment in creating new efficiency and emissions models to reduce our carbon footprint. And it’s a down payment on our work to tackle climate change and pass on a better world to our children and grandchildren.”
“Chairman Thompson has been a leader in the fight against climate change and I congratulate him on today’s introduction of the GREEN Act,” said Chairman Richard E. Neal (D-MA). “This monumental legislation makes unprecedented investments in green technologies and efficiencies using our tax code while creating programs to reduce our carbon footprint. The numerous new green jobs that will be created because of this bill make it an important feature of the Moving Forward Act and of our broader COVID-19 relief efforts. We are fighting a climate crisis that requires innovative, bold action, and that’s why we need to move quickly to pass the GREEN Act into law.”
To read the full text of the GREEN Act, click here. You can also click here for a section by section, and here for a summary.
The GREEN Act:
– Builds on current successful tax incentives that promote the deployment of green energy technologies, while providing new incentives for activities that reduce greenhouse gas emissions;
– Encourages residential investments in green energy and energy efficiency;
– Expands incentives for energy efficiency and conservation in homes and buildings, with updated standards;
– Supports widespread adoption of zero-emission cars, vans, and buses through tax credits for purchasing vehicles, and supporting deployment of publicly accessible electric vehicle charging infrastructure;
– Supports the creation of well-paying jobs by providing new tax incentives for energy and efficiency projects that engage in high road labor practices;
– Advances environmental justice using tax credits for research and other academic programs, and;
– Requires Treasury to study a framework for mandatory taxpayer carbon emissions reporting.
The GREEN Act was introduced with original cosponsors, including Ways and Means Committee Chairman Richard Neal (MA-01) and members of the committee, including John Lewis (GA-05), Lloyd Doggett (TX-35), John Larson (CT-01), Earl Blumenauer (OR-03), Ron Kind (WI-03), Bill Pascrell (NJ-09), Danny Davis (IL-07), Linda Sanchez (CA-38), Brian Higgins (NY-26), Terri Sewell (AL-07), Suzan DelBene (WA-01), Judy Chu (CA-27), Gwen Moore (WI-04), Dan Kildee (MI-05), Brendan Boyle (PA-02), Don Beyer (VA-08), Dwight Evans (PA-03), Brad Schneider (IL-10), Tom Suozzi (NY-03), Jimmy Panetta (CA-20), Stephanie Murphy (FL-07), Jimmy Gomez (CA-34) and Steven Horsford (NV-04).
Original cosponsors also include Representatives Suzanne Bonamici (OR-01), Julia Brownley (CA-26), Salud Carbajal (CA-24), Steve Cohen (TN-09), Gerald E. Connolly (VA-11), Charlie Crist (FL-13), Mike Doyle (PA-18), Anna G. Eshoo (CA-18), Deb Haaland (NM-01), Alcee L. Hastings (FL-20), Jahana Hayes (CT-05), Ann McLane Kuster (NH-02), Mike Levin (CA-49), Alan Lowenthal (CA-47), Doris Matsui (CA-06), Joe Neguse (CO-02), Harley Rouda (CA-48), Jose E. Serrano (NY-15), Darren Soto (FL-09), Mark Takano (CA-41), Bennie G. Thompson (MS-02), Paul Tonko (NY-20), and Peter Welch (VT-AL).
Thompson represents California’s Fifth Congressional District, which includes all or part of Contra Costa, Lake, Napa, Solano and Sonoma counties.