Today, the House passed bipartisan legislation – introduced by Ways and Means Committee Members Tom Rice (R-SC) and Earl Blumenauer (D-OR) – to help strengthen our nation’s energy independence and national security by improving the operation of the Nuclear Production Tax Credit (H.R. 1551).
Speaking in support of the legislation on the House floor, Ways and Means Committee Chairman Kevin Brady (R-TX) said:
“This bill … addresses an urgent problem that now poses a threat to America’s energy security and, by extension, our national security. As a result of an uncertainty with respect to the nuclear production tax credit, there is a risk of construction grinding to a halt on several cutting-edge nuclear power plants in our country … Nuclear power is critical to an all-of-the-above strategy for American energy independence and national security. It is urgent that we take action to solve this issue in our tax code.”
“As we continue working with President Trump and the Senate to deliver comprehensive tax reform in 2017, [this bill will] provide greater certainty for our nuclear energy innovators.”
After the House passed the legislation, Rep. Rice said:
“Investment in nuclear energy is critical to energy independence, national security, and job creation in America. States like South Carolina recognized the importance of this investment and are leading the way in developing advanced nuclear power facilities, but ambiguities in current law are posing a risk to their full success. Passage of this bill gives these cutting-edge facilities certainty in their investment while creating parity so savings can be passed on to consumers in South Carolina and across the country.”
CLICK HERE to learn more about the bipartisan legislation to strengthen our nation’s energy independence and national security.