CALLING ON CONGRESS TO SUPPORT EMERGING ENERGY TECHNOLOGIES BY “GREENING” THE TAX CODE

WHEREAS, tax incentives for clean energy play a crucial role in incentivizing the development of innovative new technologies and speeding adoption of these technologies; and

WHEREAS, several important tax provisions that promote clean energy technologies, including the 25C residential energy efficiency tax credit, tax credits for manufacturers of high-efficiency appliances, tax credits for the construction of new energy efficient homes, and the 1603 grants-in-lieu-of-tax-credits, expired at the end of 2011 and have yet to be extended; and

WHEREAS, short-term tax credit extensions make it difficult for companies to plan investments and hinder the deployment of clean energy generation; and

WHEREAS, President Obama has called for making the renewable energy production tax credit permanent, eliminating market uncertainty for renewable energy companies.

NOW, THEREFORE, BE IT RESOLVED, that The U.S. Conference of Mayors call upon Congress to support the extension of tax provisions that incentivize the development and deployment of clean energy technologies; and

BE IT FURTHER RESOLVED that The U.S. Conference of Mayors urge Congress to preserve and make permanent tax credits for renewable energy and energy efficiency as it works on comprehensive corporate tax reform.