Skip to content

Casey to Biden Administration: Help PA Energy Communities Access Bonus Tax Credit | U.S. Senator for Pennsylvania

Casey to Biden Administration: Help PA Energy Communities Access Bonus Tax Credit | U.S. Senator for Pennsylvania
Casey secured tax credits in Inflation Reduction Act for clean energy investments made in “energy...

Table of Contents

Senator Casey Secures Tax Credits for Clean Energy Investments in Pennsylvania Energy Communities

In a recent development, U.S. Senator Bob Casey has successfully secured tax credits in the Inflation Reduction Act for clean energy investments made in "energy communities," which are places with economies dependent on coal, oil, or natural gas. The senator has urged the U.S. Department of the Treasury and the U.S. Department of Energy to clarify guidance for the clean energy bonus tax credit to ensure that all of Pennsylvania's energy communities rightfully benefit from the bonus tax credit. This move comes as unclear guidance from the Department of Treasury has effectively excluded certain energy communities from benefiting from the investment and jobs that this credit will bring.

Senator Casey has consistently fought for new federal initiatives to support economic revitalization and workforce development for Pennsylvania energy communities and workers. In addition to securing tax credits, he has also worked to pass the Infrastructure Investment and Jobs Act to bring billions of dollars to Pennsylvania for clean energy infrastructure, roads, bridges, and high-speed internet access, all while creating good-paying jobs. Furthermore, the senator has called on the Treasury Department to prioritize American workers and manufacturing, resulting in the issuance of guidance regarding clean energy tax credits.

In his efforts to support energy communities, Senator Casey has announced the launch of two hydrogen hubs funded by the Infrastructure Investment and Jobs Act, which will bring jobs, economic growth, and energy innovation to the Mid-Atlantic and the Appalachian Basin. Additionally, he has established an Energy Communities IWG Rapid Response Team to assist Pennsylvania organizations, businesses, and local governments in coordinating federal resources for next-generation energy and workforce training.

The senator's recent actions aim to ensure that former fossil fuel energy sites are not unintentionally excluded from the energy communities bonus tax credit, allowing for the allocation of the credit according to the bill's original intent. By issuing clarifications, the Treasury Department can enable energy communities to continue their legacy of powering the nation while contributing to clean energy development.

In conclusion, Senator Casey's efforts are geared towards supporting Pennsylvania's energy communities and workers, ensuring that they benefit from clean energy investments and job creation while contributing to the nation's climate goals.

Source

Latest