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BILL WOULD ELIMINATE ALL ENERGY TAX CREDITS

Friday, February 3, 2012 - 8:00AM

Sens. Jim DeMint, R-S.C. and Mike Lee, R-Utah, yesterday introduced S. 2064, the Energy Freedom and Economic Prosperity Act (EFEPA), which repeals all energy specific tax credits. EFEPA repeals all tax credits for renewable and conventional energy sources and requires a corresponding reduction in the corporate tax rate. The bill’s sponsors say that the bill would eliminate nearly $90 billion in energy subsidies during the next 10 years. Rep. Mike Pompeo, R-Kan., introduced a companion bill (H.R. 3308) in the House of Representatives in November.

Tune in to Tax Credit Tuesday on February 7 to hear more about the Energy Freedom and Economic Prosperity Act and what it could mean for renewable energy.

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