The U.S. House Ways and Means Committee recently advanced a reconciliation package that includes a bill U.S. Rep. Brendan F. Boyle (D-PA) introduced.
The Innovative Energy Manufacturing Act would revive the Advanced Manufacturing Tax Credit. The credit invests in U.S. manufacturing capacity to supply clean energy projects with American-made equipment.
If the bill becomes law, it would provide tax credits for domestic companies that manufacture particular types of energy equipment and address labor standards. Equipment includes technologies that combats greenhouse gas emissions, electric grids, electric cars, energy conservation technologies along with solar, wind, and geothermal energy equipment.
“As our country moves forward with investing in clean energy technologies, we must ensure that the middle class is part of that investment,” Boyle said. “The manufacturing sector supports many of those middle-class families with good paying jobs. My legislation will help to create thousands of clean energy manufacturing jobs. It is also an investment in the future of American manufacturing. I have always said that American Made should never become just a memorable motto of years past, rather a basic cornerstone philosophy for this and future generations.”
The reconciliation package now moves to the House Budget Committee where it will be finalized next week.