Reps. Jon Runyan (R-N.J.), Raul Ruiz (D-Calif.) and Earl Blumenauer (D-Ore.) recently spearheaded an effort to garner support for renewable energy through tax reform.
“Renewable energy must be a part of an all of the above energy policy aimed at helping us to achieve energy independence,” Runyan said.
Runyan, Ruiz and Blumenauer authored a letter to Chairman of the Ways and Means Committee Dave Camp (R-Mich.) and Ranking Member Sander Levin (D-Mich.). The letter urged the inclusion of measures that would promote America’s renewable energy economy in upcoming tax reform legislation.
Sixty members of the House added their names to the letter, which advocates for renewable energy sources like wind, solar and hydropower.
The letter included findings from Bloomberg New Energy Finance that revealed investment in renewable energy across the world totaled more than $244 billion last year.
The United States experienced a 34 percent decrease in renewable energy investment during the time period. The letter said the decrease was due to policy uncertainty.
“Maintaining policies in the tax code that promote investment in and deployment of renewable energy technologies will help ensure that the American consumer continues to benefit from renewable energy innovations while also reaping the benefits of a diverse energy economy,” the letter said.