As originally published in The Courier of Montgomery County on January 7, 2018.
Congratulations to Representative Kevin Brady and his fellow Republican legislators in giving the citizens of the 8th District a present in time for the holidays (“Tax Reform for Christmas,” Dec. 18). As Chairman of the House Ways and Means Committee, Congressman Brady was instrumental in shaping and passing the impressive tax reform package.
Tax reform will give American businesses of all sizes a much-needed boost, including those in clean energy industries. Representative Brady has always supported tax incentives to spur development of traditional energy, as well as solar, wind and bio-fuels; therefore, it’s not surprising that he helped negotiate an agreement that will promote investment in clean energy.
The bill does much to simplify the tax code and will drive investment and innovation. The reduction in the corporate tax rate and the allowance for 100 percent expensing will help businesses of all sizes expand. Importantly, adjustments made to the Base Erosion Anti-Abuse Tax in the final bill will help the solar and wind industries keep 80 percent of the Investment Tax Credit and Production Tax Credit values.
But there is still work to do. A group of “orphaned” tax credits for renewable resources was ultimately not included this time. Congress needs to consider additional measures to include these credits. Hopefully, Rep. Brady will lead the way once again in 2018.