FORMATION OF A FEDERAL TAX POLICY FOR ENERGY INDEPENDENCE, CLEAN
TECHNOLOGY DEVELOPMENT AND CLIMATE PROTECTION
WHEREAS, the Congress has traditionally used federal tax policy to encourage individuals and businesses to invest in ways that help the nation meet national objectives and priorities; and
WHEREAS, the United States currently accounts for five percent of the world's population, but produces 30% of the world's greenhouse gases; and
WHEREAS, the United Nations and other prominent research organizations have now concluded that global warming is significantly caused by human behavior and the emission of greenhouse gases into the earth's atmosphere; and
WHEREAS, any comprehensive national policy to reduce the emission of greenhouse gases must include investment in the development of renewable energy technologies and alternative distribution systems; the replacement of older heating and cooling equipment with more energy efficient systems; and the development and construction of more energy efficient transportation systems; and
WHEREAS, current Federal tax policy includes tax preferences to technologies and industries that are major contributors to greenhouse gas emissions.
NOW, THEREFORE, BE IT RESOLVED, that the U.S. Conference of Mayors calls on Congress to pass comprehensive tax legislation that provides new and/or increased tax preferences for the development and application of technologies that reduce greenhouse gas emissions, including but not limited to renewable energy technologies such as wind, solar and biomass; energy retrofits for industrial and commercial buildings and homes; financing instruments that states and localities could use to raise interest free capital to be used to finance projects that improve energy efficiency from smart transportation infrastructure to retrofitting municipal buildings or to create lending programs to invest in local businesses or residents who deploy energy efficient technology to buildings and homes; alternative transportation fuel technologies such as hybrid, electric and hydrogen cars, trucks, and buses; and development incentives for public transportation and mass transit systems, and
BE IT FURTHER RESOLVED, that Congress conduct a study to identify current tax preferences that encourage the use of technologies that contribute significantly to greenhouse gas emissions and consider their elimination.