Expands Renewable Energy & EV Tax Credits; Attaches Labor Requirements
On May 26 and in spite of AGC’s concerns, the Senate Finance Committee passed the Clean Energy for America Act, which would consolidate and expand numerous tax incentives for the construction of energy efficient infrastructure and the production of renewable energy. The legislation would also create and greatly expand tax incentives for electric vehicles (EVs)—which do not pay into the federal Highway Trust Fund for their use of roads, bridges, and highways. In addition, the bill does not contemplate a path forward for ensuring EVs contribute to the HTF. The bill also—for the first time ever—would require any private entity receiving these tax benefits to use workers from registered apprenticeships and pay prevailing wages. Finally, the bill significantly increases taxes on oil and gas projects. The Senate could consider adding this legislation to any infrastructure bill.
If you have any questions or concerns about this legislation, please contact Matthew Turkstra at matthew.turkstra@agc.org, or (202) 547-4733