Congressman Tom Reed is leading a bipartisan effort to enhance job creation and encourage U.S. energy security. The bipartisan bill would extend tax provisions that make it easier for companies to develop energy technologies, such as fuel cells, geothermal combined heat and power systems and wind turbines.
"We care about ensuring that we can produce reliable, clean and affordable energy that our nation needs right here at home. By implementing common sense policies like this one, we can ensure that this can be accomplished," said Reed. "As we move forward with tax reform, having a structure that encourages this kind of development creates the quality, family-sustaining jobs that people throughout our country deserve, all while helping meet the energy demands of today and tomorrow. It's a win-win."
The Technologies for Energy Securities Act will phase out the tax credit to bring new technologies to market.
"Clean, renewable energy is not only good for our environment, it's good for our economy. These tax credits would encourage industry leaders to develop new technologies, growing our workforce and ensuring America's energy independence. I am proud to work with Rep. Reed to help create jobs and grow our fuel cell, wind turbine, and other renewable energy sectors," stated Thompson.
The proposal comes as part of Reed's efforts to make sound changes to our tax code in regards to energy. The plan is designed to implement and support policies that would create competition with international sources of energy.
Wednesday Reed was named a member of the Ways and Means Subcommittee on Health. This Subcommittee will be instrumental in the process of repealing and replacing the Affordable Care Act.
"I am honored to be named to the Subcommittee on Health. We look forward to crafting sound health care policy that will benefit hard working American families," said Reed. "The Affordable Care Act has been a financial burden on both businesses and families throughout my district. I care about creating a fair replacement to the ACA so that my constituents will have access to quality, cost efficient health care of their choosing. "
Reed will remain a member of the Subcommittee on Human Resources and Subcommittee on Trade for the Ways and Means Committee.