To amend the Internal Revenue Code of 1986 to disallow the production tax credit and investment tax credit for offshore wind facilities placed in service in the inland navigable waters of the United States or the coastal waters of the United States.

Bill 119 HR 2187 aims to make changes to the Internal Revenue Code of 1986 by disallowing the production tax credit and investment tax credit for offshore wind facilities that are placed in service in the inland navigable waters or coastal waters of the United States. This means that companies that operate offshore wind facilities in these specific areas would no longer be eligible for these tax credits.

The bill is focused on offshore wind facilities specifically located in inland navigable waters or coastal waters of the United States. It does not affect other types of renewable energy projects or facilities located in different areas.

The purpose of this bill is to potentially reduce government spending on tax credits for offshore wind facilities in these specific locations. Supporters of the bill may argue that these tax credits are unnecessary for offshore wind facilities in these areas, as they may already be economically viable without them. Opponents of the bill may argue that removing these tax credits could hinder the growth and development of offshore wind energy in the United States, as these credits have been instrumental in incentivizing investment in renewable energy projects. They may also argue that this bill could have negative impacts on job creation and economic growth in the renewable energy sector. Overall, Bill 119 HR 2187 seeks to make changes to the tax incentives for offshore wind facilities in specific areas of the United States, with potential implications for the renewable energy industry and government spending.