17 Jan
January 17, 2023 (Washington D.C.) — Today, Grid Action was among the 28 signers on a letter to the chairmen and ranking members of the Senate Finance Committee and House Ways and Means Committee urging the inclusion of a transmission investment tax credit in as part of the final tax package being negotiated. Read the letter here.
A transmission tax credit, narrowly tailored to apply to high-capacity, long-distance lines, would provide developers long-term investment certainty when building regionally-significant transmission lines. It would generate $2.3 billion in energy cost savings for the lower 80% of income brackets, create over 650,000 jobs, add 30,000 MW of clean energy capacity to the grid, and deploy more than $15 billion in private capital investment.
Christina Hayes, executive director of Grid Action released the following statement:
“Meeting our modern energy needs is dependent on a robust grid. A transmission investment tax credit, tailored to incentivize high-capacity interstate transmission lines, would reduce costs for customers of investment in the kind of large-scale transmission required to develop a grid in the national interest.
“A well-planned grid is required to affordably and reliably transport clean power across the country. Expanding transmission will not only increase grid reliability, but also provide consumers access to lower-cost energy and stimulate the economy through private investment and the creation of good-paying jobs. We look forward to working with members of the House and Senate to get a transmission tax credit passed this Congress.”
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About Grid Action:
Grid Action is a broad-based 501(c)(4) organization with a mission to advocate for policies to expand, modernize, and integrate the high-voltage transmission grid to achieve greater security, reliability, affordability, and sustainability of electric power service in the United States. Learn more.
Media Contact:
Chloe Slayter, Communications Manager
chloe.slayter@cleanenergygrid.org | 805-556-5344
