House Holds Hearings On Energy Tax Incentives
The House Committee on Ways and Means is holdinghearings to examine the effectiveness of current energy taxpolicy and to identify additional steps that the committee can take toensure continued job growth. The committee will also look at advancingnational energy policy, with a discussion of current and proposed energy tax incentives.
Ways and Means Committee Chairman Sander M.Levin, D-Mich., stated in his opening statement that the U.S. is lagging behind other countries when it comes to renewable energy advancements.
He cited a paper from the National Foreign Trade Council that said Chinese developers have indicated that eventually most or all of the renewableenergy equipment installed in China will be made in China. This will beachieved, according to the paper, through laws, regulations and othermeasures.
Levin noted that the American Recovery and Reinvestment Act has allowed more investment in advanced renewable energytechnologies but more needs to be done.
"In particular, althoughwe are making strides in generating long-term demand for greentechnology, we have significant work to do to make certain this demandis satisfied with goods produced in the United States," Levin explains."Toda,y we will hear testimony that the U.S. wind turbine manufacturingindustry is not currently capable of supplying 100% of the wind powercapacity that would be constructed with the support of these RecoveryAct programs."
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