Chairman Thompson, 47 Democratic Cosponsors Introduce GREEN Act comprehensive approach to tackling climate change using the tax code

Chairman Thompson, 47 Democratic Cosponsors Introduce GREEN Act comprehensive approach to tackling climate change using the tax code

PRESS RELEASE

Washington – Today House Ways and Means Select Revenue Measures Subcommittee Chairman Mike Thompson (CA-05) and 47 Members of Congress announced the introduction of Thompson’s Growing Renewable Energy and Efficiency Now (GREEN) Act. This legislation, the principles of which were first unveiled last November, works to tackle the threat of climate change through the tax code. This includes an unprecedented extension and expansion of renewable energy use to help reduce greenhouse gas emissions

“The threat of climate change is the most pressing issue of our time. Today we take a major step forward in enacting comprehensive climate policy as we introduce the GREEN Act,” said Thompson. “This bill uses our tax code to expand the deployment of renewable energy by extending and expanding the federal tax incentives to promote clean energy technologies and supports widespread deployment of zero-emissions vehicles. All this is an investment in creating new efficiency and emissions models to reduce our carbon footprint. And it’s a down payment on our work to tackle climate change and pass on a better world to our children and grandchildren.”

“Chairman Thompson has been a leader in the fight against climate change and I congratulate him on today’s introduction of the GREEN Act,” said Chairman Richard E. Neal (D-MA). “This monumental legislation makes unprecedented investments in green technologies and efficiencies using our tax code while creating programs to reduce our carbon footprint. The numerous new green jobs that will be created because of this bill make it an important feature of the Moving Forward Act and of our broader COVID-19 relief efforts. We are fighting a climate crisis that requires innovative, bold action, and that’s why we need to move quickly to pass the GREEN Act into law.”  

To read full text of the GREEN Act, you can click here. You can also click here for a section by section, and here for a summary. The GREEN Act:

  • Builds on current successful tax incentives that promote the deployment of green energy technologies, while providing new incentives for activities that reduce greenhouse gas emissions,
  • Encourages residential investments in green energy and energy efficiency,
  • Expands incentives for energy efficiency and conservation in homes and buildings, with updated standards,
  • Supports widespread adoption of zero-emission cars, vans, and buses through tax credits for purchasing vehicles, and supporting deployment of publicly accessible electric vehicle charging infrastructure,
  • Supports the creation of well-paying jobs by providing new tax incentives for energy and efficiency projects that engage in high road labor practices,
  • Advances environmental justice using tax credits for research and other academic programs, and
  • Requires Treasury to study a framework for mandatory taxpayer carbon emissions reporting.

The GREEN Act was introduced with original cosponsors, including Ways and Means Committee Chairman Richard Neal (MA-01) and members of the committee, including John Lewis (GA-05), Lloyd Doggett (TX-35), John Larson (CT-01), Earl Blumenauer (OR-03), Ron Kind (WI-03), Bill Pascrell (NJ-09), Danny Davis (IL-07), Linda Sanchez (CA-38), Brian Higgins (NY-26), Terri Sewell (AL-07), Suzan DelBene (WA-01), Judy Chu (CA-27), Gwen Moore (WI-04), Dan Kildee (MI-05), Brendan Boyle (PA-02), Don Beyer (VA-08), Dwight Evans (PA-03), Brad Schneider (IL-10), Tom Suozzi (NY-03), Jimmy Panetta (CA-20), Stephanie Murphy (FL-07), Jimmy Gomez (CA-34), and Steven Horsford (NV-04). 

Original cosponsors also include Representatives Suzanne Bonamici (OR-01), Julia Brownley (CA-26), Salud Carbajal (CA-24), Steve Cohen (TN-09), Gerald E. Connolly (VA-11), Charlie Crist (FL-13), Mike Doyle (PA-18), Anna G. Eshoo (CA-18), Deb Haaland (NM-01), Alcee L. Hastings (FL-20), Jahana Hayes (CT-05), Ann McLane Kuster (NH-02), Mike Levin (CA-49), Alan Lowenthal (CA-47), Doris Matsui (CA-06), Joe Neguse (CO-02), Harley Rouda (CA-48), Jose E. Serrano (NY-15), Darren Soto (FL-09), Mark Takano (CA-41), Bennie G. Thompson (MS-02), Paul Tonko (NY-20), and Peter Welch (VT-AL).

In addition, you can click here to view statements of support from the following organizations: National Resource Defense Council, National Wildlife Fund, Sierra Club, Environmental Defense Fund, League of Conservation Voters, Citizens' Climate Lobby, American Council on Renewable Energy, Union of Concerned Scientists, Alliance to Save Energy, Center for Earth, Energy and Democracy, Solar Energy Industries Association, American Wind Energy Association, Business Council for Sustainable Energy, Energy Storage Association, Fuel Cell and Hydrogen Energy Association, Electric Drive Transportation Association, Plug-In America, EV Drive Coalition, League of American Bicyclists, American Public Power Association, US Green Building Council, 179D Coalition, American Biogas Council, Advanced Biofuels Business Council, Carbon Capture Coalition, and Biomass Power Association.