Alliance Submits Comments on Tax Reform to Senate Finance Committee

The Alliance for Industrial Efficiency submitted comments on tax reform to the Senate Finance Committee. The Committee urged stakeholders to address ways to strengthen business—both large and small—as well as improve the nation’s competitiveness in the global economy through tax reform. The Alliance recommends reinstating and phasing out the Section 48 Investment Tax Credit (ITC) for CHP and other “orphan technologies” that were not extended in December 2015; if the ITC is not extended, then the Alliance supports a technology-neutral alternative. The Alliance also supports a five-year transition period in which taxpayers may elect depreciation and deduction of interest expenses rather than full and immediate expensing. These incentives improve American manufacturing competitiveness by reducing barriers to combined heat and power (CHP) and other energy efficient technologies. Read the full comments here.