American Clean Power statement on a proposed Book Minimum Tax

WASHINGTON DC, October 26, 2021 – Congress is still working through the funding details for the Build Back Better agenda, but the American Clean Power Association has significant concerns about the impact of a book minimum tax on renewable energy deployment. Current tax incentives and industry innovation have supported a vast expansion of renewable energy in the United States, but significantly more investment is required to meet President Biden’s 2030 goals. We encourage Congress to continue the progress and pass a plan with a full complement of renewable tax incentives and direct pay. A tax proposal that undermines existing incentives with new asset depreciation requirements will increase credit costs and slow the clean energy deployment our country needs for the future.