House panel votes to extend tax credit for nuclear power
The House Ways and Means Committee on Thursday approved a bipartisan bill that would lift a deadline for the nuclear power production tax credit.
The panel passed the bill by voice vote.
The legislation would lift a requirement that nuclear facilities be placed in service by 2020 to be eligible for the credit. It would also allow public and nonprofit entities to transfer credits to other partners on the facilities, such as the projects’ designers.
The bill, which was introduced by Reps. Earl Blumenauer (D-Ore.) and Tom Rice (R-S.C.), is of particular importance in South Carolina and Georgia, where new nuclear power plants are being constructed.
“We need to give these plants the certainty of the tax credits as Congress originally intended, not just for South Carolina and Georgia, but for the continued innovation of carbon-free nuclear energy and the security of our nation,” Rice said.