Washington, D.C. – President Obama released his framework for corporate tax reform yesterday morning, which includes provisions to eliminate tax breaks to the oil and gas industries and to make the renewable energy production tax credit permanent and refundable. The plan seeks to expand manufacturing such that the United States takes the lead in manufacturing clean energy technologies, citing that “this will create jobs here at home and … reduce air and water pollution and enhance our national security by reducing dependence on oil.”
Environment America’s Clean Energy Advocate Courtney Abrams issued the following statement in response:
“The Obama administration’s newly released plan for tax reform takes bold steps towards leveling the playing field for clean, renewable energy. Analyses show that subsidies to fossil fuels have traditionally dwarfed those to renewable energy. By cutting tax breaks to oil and gas companies – who for decades have profited at the expense of our health and environment – and instead investing in burgeoning clean energy industries, the administration recognizes that we can both grow our economy and ensure a future with cleaner air and water for all Americans.
“We applaud the Obama administration’s commitment to responsibly develop truly clean energy sources like wind and solar power. In addition, we must take more steps to shift the nation away from oil and gas drilling and nuclear power, which pose major risks to drinking water and air quality, our coasts and public lands, and the health of our families.”