Democrats create a tax incentive for unreliable and inefficient 'renewable' energy
Democrats on the House Ways and Means Committee on Tuesday released draft legislation aimed at addressing climate change by extending and expanding tax breaks for renewable energy.This is a waste that will subsidize inefficiency and unreliability. They should be looking at more viable energy solutions than wind and solar. The Navy is developing small scale fusion reactors and nuclear reactors are more dependable than wind and solar. Natural gas is a more dependable bridge fuel and has reduced CO2 emissions. Neither wind or solar is scalable to meet demand.
“This bill will build on existing tax incentives that promote renewable energy and increase efficiency and create new models for technology and activity to reduce our carbon footprint," Rep. Mike Thompson (D-Calif.), chairman of the Ways and Means Committee's tax subcommittee, said in a news release.
The draft legislation would extend a host of renewable energy tax breaks, including the production tax credit and the investment tax credit.
It also would expand the electric vehicle tax credit and create new tax credits for buyers of used electric cars and manufacturers of zero-emission commercial vehicles and buses.