Senators Propose Extending Fossil Fuel Tax Breaks to Clean Energy

A bipartisan group of US senators propose to extend fossil fuel tax breaks to clean energy, reports Lydia Beyoud at Bloomberg News.  “The bipartisan Master Limited Partnerships Parity Act levels the playing field to help clean and renewable energy projects compete fairly with traditional energy projects,” Senator Coons said, notes his website. “Our legislation will unleash private capital, create jobs and modernize our tax code. That’s why it has earned broad support from Republicans and Democrats in Congress, as well as academics, outside experts, business leaders and investors.” A master limited partnership (MLP) is a business structure that is taxed as a partnership, but whose ownership interests are traded like corporate stock on a market; this broadens access to private capital.  “Master Limited Partnerships have a proven record of success,” Senator Moran said. Currently restricted to fossil fuel companies, this act would allow clean energy companies to form MLPs. Meanwhile, Richard Caperton at Climate Progress argues, Congress should continue to renew Production Tax Credits, a historically successful policy for driving private investment in renewable clean energy, since implementing MLPs for clean energy could take years.

 

Join the swelling numbers of voters TELLING Congress they’ll vote for Clean Energy candidates here: http://signon.org/sign/we-are-the-clean-99?source=c.em.cp&r_by=487176 . This is an ongoing campaign (the next Congressional election is in 2 years!) so please, spread the word. It’s our way of telling Congress that a strong clean energy voting bloc is out there. This is how YOU can make a difference.

 

For more on Climate Change, check out my weekly column at the HuffingtonPost, Climate Change This Week : http://www.huffingtonpost.com/author/index.php?author=mary-ellen-harte

 

Source

Renewable energy wins Republicans backing oil-gas benefit. A bipartisan bill introduced in the Senate last week would allow renewable and clean energy-related companies to structure their businesses as master limited partnerships — avoiding double taxation while also trading ownership interests on the market, similar to corporate stock. Bloomberg News

 

Senators Coons, Moran, Stabenow and Murkowski re-introduce bill to level the playing field for renewable energy technologies

http://www.coons.senate.gov/newsroom/releases/release/senators-coons-moran-stabenow-and-murkowski-re-introduce-bill-to-level-the-playing-field-for-renewable-energy-technologies

 

If Oil Companies Can Have Master Limited Partnerships, Why Can’t Clean Energy Companies? So keep renewing the PTC, cuz even if MLP becomes law, it’ll take years to regulate it…

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About melharte

Mel (Mary Ellen) Harte is a biologist (PhD) and climate change educator. She co-authored the free online book, COOL THE EARTH, SAVE THE ECONOMY, available at www.CoolTheEarth.US, and writes the CLIMATE CHANGE THIS WEEK column at the HuffingtonPost. Living summers in the alpine Rockies, she is on the frontlines of watching what climate change can do. Her diagnostic digital photographs of wildflowers have appeared in numerous publications.
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