Congressman Panetta Co-Introduces the Growing Renewable Energy and Efficiency Now (GREEN) Act

WASHINGTON, DC – Yesterday, Congressman Jimmy Panetta (CA-20) and 47 Members of Congress announced the introduction the Growing Renewable Energy and Efficiency Now (GREEN) Act. This legislation, the principles of which were first unveiled last November, works to tackle the threat of climate change through the tax code. This includes an unprecedented extension and expansion of renewable energy use to help reduce greenhouse gas emissions.

"Our economic recovery from this pandemic requires smart investments and incentives to foster economic development and job growth. Focusing these incentives on green technologies, the economic engines of the future, will combat the climate crisis already impacting our communities. We cannot allow one crisis to be swapped for another unchecked." said Congressman Jimmy Panetta.

"The Growing Renewable Energy and Efficiency Now (GREEN) Act will ensure that our economy will recover better prepared to combat the climate crisis through the encouragement of green technology development, and the revitalization of a clean energy workforce. The deployment of clean energy technologies spurred by the GREEN Act will put Americans back to work and preserve innovative industries. I'm also proud that this bill includes legislation I've authored, including tax incentives for zero- and low-emissions buses and tax parity for low-emission technologies that will improve the resilience of our communities. These policies will not only create jobs and bring back our economy, but also lead to a more sustainable future for our children."

To read full text of the GREEN Act, you can click here. You can also click here for a section by section, and here for a summary. The GREEN Act:

• Builds on current successful tax incentives that promote the deployment of green energy technologies, while providing new incentives for activities that reduce greenhouse gas emissions,
• Encourages residential investments in green energy and energy efficiency,
• Expands incentives for energy efficiency and conservation in homes and buildings, with updated standards,
• Supports widespread adoption of zero-emission cars, vans, and buses through tax credits for purchasing vehicles, and supporting deployment of publicly accessible electric vehicle charging infrastructure,
• Supports the creation of well-paying jobs by providing new tax incentives for energy and efficiency projects that engage in high road labor practices,
• Advances environmental justice using tax credits for research and other academic programs, and
• Requires Treasury to study a framework for mandatory taxpayer carbon emissions reporting.

You can click here to view statements of support from the following organizations: National Resource Defense Council, National Wildlife Fund, Sierra Club, Environmental Defense Fund, League of Conservation Voters, Citizens' Climate Lobby, American Council on Renewable Energy, Union of Concerned Scientists, Alliance to Save Energy, Center for Earth, Energy and Democracy, Solar Energy Industries Association, American Wind Energy Association, Business Council for Sustainable Energy, Energy Storage Association, Fuel Cell and Hydrogen Energy Association, Electric Drive Transportation Association, Plug-In America, EV Drive Coalition, League of American Bicyclists, American Public Power Association, US Green Building Council, 179D Coalition, American Biogas Council, Advanced Biofuels Business Council, Carbon Capture Coalition, and Biomass Power Association.

Congressman Panetta serves on the House Committee on Ways and Means.