NEMA supports technology-neutral energy tax provisions.
Press Release Summary:
NEMA commends Senate Finance Committee for holding a hearing on Reforming America’s Outdated Energy Tax Code. According to NEMA President and CEO Kevin J. Cosgriff, association is especially encouraged by Chairman Wyden’s support for moving to a technology-neutral and performance-based approach to energy tax policy. NEMA has provided the Finance Committee with a package of technology-neutral tax incentives to boost energy efficiency in new and existing buildings, factories, and electric grid.
Original Press Release:
NEMA Commends Senate Finance Committee for Focus on Technology-Neutral Energy Tax Provisions
ROSSLYN, Va., —The National Electrical Manufacturers Association (NEMA) commends the Senate Finance Committee for holding a hearing today on Reforming America’s Outdated Energy Tax Code.
According to NEMA President and CEO Kevin J. Cosgriff, the association is especially encouraged by Chairman Wyden’s support for moving to a technology-neutral and performance-based approach to energy tax policy.
“In 2012, the NEMA Board of Governors adopted a policy supporting corporate tax reform and a system that is predictable, efficient, and has rates that are comparable to those of other advanced economies. It is achievable by broadening the tax base and using revenues to lower tax rates,” Cosgriff said.
NEMA has provided the Finance Committee and other committees of jurisdiction, a package of technology-neutral tax incentives developed by its members to boost energy efficiency in new and existing buildings, factories, and America’s electric grid.
See NEMA’s technology neutral legislative proposals here.
Since tax reform is likely to be a multiyear effort, NEMA has urged Congress, in the interim, to extend expired energy-efficiency incentives including section 179D, the energy efficient commercial buildings deduction, in order to maintain the nation’s progress to a more energy efficient and competitive economy.
NEMA is the association of electrical equipment and medical imaging manufacturers, founded in 1926 and headquartered in Rosslyn, Virginia. Its 400-plus member companies manufacture a diverse set of products including power transmission and distribution equipment, lighting systems, factory automation and control systems, and medical diagnostic imaging systems. Total U.S. shipments for electroindustry products exceed $100 billion annually.
National Electrical Manufacturers Association
Visit our website at www.nema.org
