Clean Energy for America Act

3/8/2023, 8:12 PM

Clean Energy for America Act

This bill provides for tax incentives for investments in clean electricity, clean transportation, energy efficiency, and the termination of certain provisions relating to oil, gas, and other fossil fuels.

Among other provisions, the bill

  • allows new tax credits for investment in clean energy facilities and for the production of electricity from clean energy and clean fuel;
  • allows a new tax credit for expenditures for clean energy property used in connection with a principal residence;
  • allows a new tax credit for sustainable aviation fuel;
  • allows an alternative motor vehicle tax credit for fuel cell motor vehicles, electric vehicles, and for refueling property;
  • allows a tax credit for the production of electricity from clean hydrogen;
  • extends for one year the second generation biofuel producer tax credit and the tax credit for alternative fuels;
  • modifies existing tax credits for energy efficient residential buildings, energy efficient home improvement expenditures, geothermal heat pumps, and the tax deduction for energy efficient commercial buildings;
  • terminates certain provisions relating to oil, gas, and other fossil fuels;
  • requires that at least 15% of the total workforce labor hours be performed by qualified apprentices;
  • requires that projects receiving federal assistance comply with federal prevailing wage requirements; and
  • allows the issuance of tax-exempt private activity bonds for qualified carbon dioxide capture facilities.
Congress
117

Number
S - 2118

Introduced on
2021-06-17

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

6/21/2021

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Clean Energy for America Act

This bill provides for tax incentives for investments in clean electricity, clean transportation, energy efficiency, and the termination of certain provisions relating to oil, gas, and other fossil fuels.

Among other provisions, the bill

  • allows new tax credits for investment in clean energy facilities and for the production of electricity from clean energy and clean fuel;
  • allows a new tax credit for expenditures for clean energy property used in connection with a principal residence;
  • allows a new tax credit for sustainable aviation fuel;
  • allows an alternative motor vehicle tax credit for fuel cell motor vehicles, electric vehicles, and for refueling property;
  • allows a tax credit for the production of electricity from clean hydrogen;
  • extends for one year the second generation biofuel producer tax credit and the tax credit for alternative fuels;
  • modifies existing tax credits for energy efficient residential buildings, energy efficient home improvement expenditures, geothermal heat pumps, and the tax deduction for energy efficient commercial buildings;
  • terminates certain provisions relating to oil, gas, and other fossil fuels;
  • requires that at least 15% of the total workforce labor hours be performed by qualified apprentices;
  • requires that projects receiving federal assistance comply with federal prevailing wage requirements; and
  • allows the issuance of tax-exempt private activity bonds for qualified carbon dioxide capture facilities.
Alternative Names
Official Title as IntroducedA bill to amend the Internal Revenue Code of 1986 to provide tax incentives for increased investment in clean energy, and for other purposes.

Policy Areas
Taxation

Potential Impact
Air quality•
Alternative and renewable resources•
Aviation and airports•
Building construction•
Business investment and capital•
Climate change and greenhouse gases•
Coal•
Electric power generation and transmission•
Employment and training programs•
Energy efficiency and conservation•
Hybrid, electric, and advanced technology vehicles•
Income tax credits•
Income tax deductions•
Inflation and prices•
Labor standards•
Lighting, heating, cooling•
Motor fuels•
Oil and gas•
Residential rehabilitation and home repair•
Securities•
Wages and earnings

Comments

Recent Activity

Latest Summary1/25/2022

Clean Energy for America Act

This bill provides for tax incentives for investments in clean electricity, clean transportation, energy efficiency, and the termination of certain provisions relating to oil, gas, and other fo...


Latest Action6/21/2021
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 78.