Statement from E2 Executive Director Bob Keefe
WASHINGTON (December 4, 2017) – Over the weekend, the U.S. Senate voted 51 to 49 to pass tax legislation that would detrimentally impact thousands of wind and solar energy investors, developers, manufacturers, and workers. As passed, the Senate’s tax legislation would subject renewable energy tax credits to a new 100 percent tax under a so-called “BEAT” (Base Erosion Anti-Abuse Tax) provision, which could devastate clean energy investments in this country.
The following is a statement from Bob Keefe, executive director of the national, nonpartisan business group E2 (Environmental Entrepreneurs):
“Congress just sent a signal to the rest of the world not to invest in America’s solar and wind industries—jeopardizing an industry adding jobs 12 times faster than the rest of the economy.”
“Despite claims of wanting to promote US economic growth, leaders in Washington just did the opposite.”
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Additional Resources:
- Letter from 371 business leaders and investors urging Congress to support federal clean energy tax provisions
- E2 Clean Energy Jobs Factsheet
- S. Labor Department’s Biennial Employment Projects 2016-2026
To speak with E2 members and business leaders in your community on this issue, please contact Michael Timberlake at (202) 289-2407 or [email protected].
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Environmental Entrepreneurs (E2) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.