Rep. TJ Cox Secures Energy Tax Incentives to Strengthen the Valley Economy

Statement

On Tuesday, the House of Representatives passed a pair of key Fiscal Year 2020 funding bills (H.R. 1865 and H.R. 1158), also called "minibus bills." Rep. TJ Cox (CA-21) has been very active in this process, fighting for Central Valley priorities often ignored in the funding process. Without legislative action to authorize necessary operating expenses, the government was set to shut down on December 20th. A shutdown would have resulted in a freeze in military pay, critical health and safety programs across the country being halted, and billions of dollars in lost revenue from the economy.

"This year, I heard from a number of small businesses in the Valley who told me they had paused plans to expand and uncertainty left them unable to plan for future investments because these credits had expired. I took their concerns directly to House leadership and got their commitment that these credits would be extended, generating investment and creating jobs in our nation's rural economies," said Rep. Cox.

Key Energy Tax Extenders Included in the Funding Agreement:

Biodiesel and renewable diesel tax credit (through Dec. 31 2022)

Alternative fuel tax credits (through Dec. 31, 2020)

Renewable energy production tax credit (through Jan. 1, 2021)

Energy efficient home tax credit (through Dec. 31, 2020)

Source