Larry LaRocco on Tax Reform

Democratic Senate Challenger; previously US Rep.

Provide a tax credit to producers of renewable energy

One tool that the government can use to ease the transition toward energy independence is tax incentives. A recent example is the Production Tax Credit (PTC), first passed in 1992, which provides a tax credit to the producer of renewable energy. This type of tax credit encourages research and production of alternative energy sources by making them economically viable relative to dirtier technologies. To effectively encourage growth in the alternative energy industry the government should enact tax credits with firm and predictable trajectories. They target specific technologies rather than allowing the market to work. Currently the PTC applies to a list of existing technologies, with a higher credit for "more renewable" energy sources (such as wind and geothermal). This list should be adaptable to new innovations. When used correctly, tax incentives can be a powerful tool to encourage production of energy from alternative sources and move the country towards energy independence. Source: Campaign website, www.laroccoforsenate.com, "Issues" May 14, 2008

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*Other candidates on Tax Reform:*		*Larry LaRocco on other issues:*
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Page last updated: 7/2/2008