House Pitches Bill to Spur Green Manufacturing

IndustryWeek (Alpern) - Democrats propose tax incentives to modernize manufacturing facilities and encourage renewable energy...Thee House is moving forward on a bill that would provide $25 billion in tax credits to manufacturers of renewable energy equipment and funding for other sources of clean energy. House Ways and Means Committee Chairman Sander Lavin (D-Mich.) introduced legislation on July 26, referring to it as a “discussion draft”, which includes $6.5 billion worth of investment tax credits for manufacturers that re-equip, expand or establish domestic manufacturing facilities that produce advanced energy equipment.

The bill is part of an effort to build on top of the $2.3 billion of investment tax credits provided by the 2009 economic stimulus package and give financing tools to state and local governments to encourage energy-efficiency. The new bill would extend federal subsidies for wind and solar power facilities that received funding last year.