Working to put our economy back on track and put people back to work, Rep. Debbie Halvorson (IL-11) has delivered a series of clean energy tax credits during her first term in Congress to help Illinois businesses invest in clean energy solutions and creating jobs. Halvorson has also proposed a number of renewable energy and energy efficient tax credits to help local businesses and spur innovation and growth in this important industry.
"We have seen signs that our economy is turning a corner, but until businesses can grow and people can get back to work, I simply won't be satisfied. That is why I have been fighting to deliver tax credits for next-generation clean energy programs, so our businesses can translate those new savings into new jobs, and our families can get back to work," said Halvorson. "Our district has the potential to be a leader in clean jobs and clean energy, but that potential can't be met unless our businesses have the resources they need to grow and create jobs. These tax credits provide those resources, and hope for a brighter future for our district."
Halvorson supported several clean energy tax credits included in the American Recovery and Reinvestment Act, which passed last year. Primary among those tax credits included in the Recovery Act for clean energy growth are extensions of the Production Tax Credit for wind power and other renewable energy sources, the Investment Tax Credit for energy production technologies, and new federal grants to promote the growth of a clean energy industry. These tax credits mean that renewable energy producers have greater access to resources to grow their businesses and create jobs. Halvorson also secured $1 million in funding for the City of Peru to construct a wind turbine for local electricity, which will also create construction jobs.
In addition to provisions in the Recovery Act, Halvorson has introduced legislation that would provide an incentive for businesses to become more energy efficient through investing in mechanical insulation. Halvorson's bill, H.R. 4296, The Mechanical Insulation Installation Incentive Act, would save businesses almost $10 billion a year in insulation costs, and help create nearly 90,000 jobs annually.
Halvorson also authored the Renewable Energy Investment Act, H.R.3909, which would extend existing renewable energy tax credits, and the biodiesel production tax credits to encourage increased production in biofuels and other homegrown energy. These increased productions would provide domestic energy producers with additional resources to grow and create jobs.
It is not just businesses that will benefit from these tax credits, working families have also seen incentives to invest in clean energy.
Illinois families taken advantage of incentives to "go green" through the Illinois ENERGY STAR® Appliance Rebate Program, which provides incentives for Illinois consumers to replace older appliances with specific residential ENERGY STAR qualified appliances, water heaters, and HVAC equipment. This program was established through the American Recovery and Reinvestment Act. Residential renewable energy tax credits of 30 percent for families who install solar energy systems in their homes are also available between now and 2016.