Recent News

Thursday, July 9, 2020

A unity task force created by Vice President Joe Biden and Sen. Bernie Sanders, D-Vt., yesterday released a set of policy recommendations for a Biden administration if he wins the presidential election in November. The 110-page task force blueprint calls to expand and make permanent the new markets tax credit (NMTC) and to double the funding for community development financial institutions.

Wednesday, July 8, 2020

Rep. Sean Casten, D-Ill., this week introduced the Energy Tax Credit Direct Payment Act of 2020 (H.R. 7491) to revive the Section 1603 program of the American Recovery and Reinvestment Act of 2009, allowing the Secretary of the Treasury to convert certain renewable energy tax credits into cash grants.

Thursday, July 2, 2020

Seven U.S. Senators authored a letter to Treasury Secretary Steven Mnuchin, asking Treasury to extend the continuity safe harbor provision further for offshore wind. The letter thanks Mnuchin for earlier guidance, but asks for an additional three years beyond the standard four-year safe harbor for offshore wind projects that began construction between 2016 and 2020.

Wednesday, July 1, 2020

The House of Representatives today approved a sweeping infrastructure bill, voting to send the $1.5 trillion legislation to the Senate. The Moving Forward Act (H.R.

Monday, June 29, 2020

A bipartisan group of 48 members of the House of Representatives submitted a letter requesting that House leadership delay the phasedown of the renewable energy investment tax credit (ITC) and the Section 25D residential energy-efficient tax credit, due to the effects of the COVID-19 pandemic. The letter cites the fact that the clean energy industry has lost jobs since the start of the phasedown and requests a delay in the phasedown of the credits.

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