Georgia Congressmen Join Allen to Urge Inclusion of Nuclear Production Tax Credit in Tax Reform
Washington,
October 30, 2017
Congressman Rick W. Allen (R-GA-12) was joined by eleven of his Georgia colleagues on a letter to House Ways and Means Committee Chairman Kevin Brady (R-TX) urging the inclusion of the Modifying Advanced Nuclear Power Tax Credit in their forthcoming tax legislation. Congressman Allen released the following statement: “I thank my Georgia colleagues who joined me on this important letter to House Ways and Means Committee Chairman Kevin Brady, requesting that the Nuclear Production Tax Credit be included in the final tax reform bill. Now that Congress cleared the last hurdle to begin tackling tax reform, the House Ways and Means Committee will soon release legislative text. “My district is leading the way in the expansion of our nation’s nuclear energy resources, constructing two of the first new nuclear reactors in the United States in more than 30 years, and the Nuclear Production Tax Credit is critical to continue America’s dominance in the global nuclear industry. I am hopeful that we will see the Nuclear Production Tax Credit included in the Ways and Means Committee’s legislation, allowing us to continue to invest in our own energy independence and provide low cost energy to my constituents and folks across the nation. The future of nuclear energy in America depends on it.” Please see below for the full text of the letter: October 26, 2017 The Honorable Kevin Brady, Chairman Dear Chairman Brady: As the Ways and Means Committee writes legislation to simplify and modernize our tax code, we urge you to include H.R. 1551 - Modifying Advanced Nuclear Power Tax Credit, which was reported favorably by the committee in 2016 and 2017, passed the House of Representatives unanimously, and has the support of the Administration. As you know, this legislation will modify the Nuclear Production Tax Credit (NPTC) to eliminate the 2020 sunset date. H.R. 1551 would also enable nonprofit co-owners to fully realize the NPTC, in keeping with Congress’ original intent. The modifications to this tax credit have a minimal $16 million score according to CBO, but will result in approximately $2 billion of energy savings for Georgia’s Plant Vogtle project alone, which will be passed along to ratepayers, and will signal to the world that America is intent on continuing to lead the way in nuclear production. Our state of Georgia is leading the way to expand nuclear energy, constructing two of the first new nuclear reactors in the United States in more than 30 years. Beyond simply benefiting Georgia, this credit is integral to protecting our nation’s energy security and independence, ushering in an American nuclear energy renaissance. Without these credits, innovative projects serving energy customers and creating jobs in South Carolina, Alabama, Utah, Oregon, Idaho, Nevada, and many other states will never have the opportunity to succeed. We respectfully request your support for the inclusion of H.R. 1551 in the comprehensive tax reform legislation. We cannot overstate the urgency of our request and we greatly appreciate your favorable consideration. Sincerely, Rick W. Allen (GA-12) ### |
