WASHINGTON, D.C. — Today, Citizens for Responsible Energy Solutions (CRES) joined leaders in the renewable energy sector on a letter to the U.S. Senate outlining strong concerns with the Base Erosion Anti-Abuse Tax (BEAT) provisions in the Senate Tax Cuts and Jobs Act of 2017. CRES Managing Director Heather Reams released the following statement on the letter:
“While CRES is grateful that the Senate tax legislation leaves the current phase-down schedules for wind and solar energy tax credits in place, as drafted, the bill’s BEAT provisions would subject renewable tax credits for many investors to a new 100 percent tax, which would be devastating to the sector,” said Reams. “As the full Senate considers this legislation, we urge the Senate to fix the bill to exempt the production and investment tax credits from the calculation of the base erosion tax.”
A full copy of the letter can be found here. Signers included:
- Heather Reams, Managing Director, Citizens for Responsible Energy Solutions (CRES)
- Gregory Wetstone, President & CEO, American Council on Renewable Energy (ACORE)
- Tom Kiernan, CEO, American Wind Energy Association (AWEA)
- Abigail Hopper, Executive Director, Solar Energy Industries Association (SEIA)
Citizens for Responsible Energy Solutions is a 501(c)(4) non-profit organization founded in 2013 to engage Republican policymakers and the public about commonsense, conservative solutions to address our nation’s need for abundant, reliable energy while preserving our environment.