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PREF LetterHR1 RenewableEnergyProvisions

Nov. 13 letter from the U.S. Partnership for Renewable Energy Finance (US PREF) to Rep. Kevin Brady, Chairman of the House Ways and Means Committee, urging immediate action to remove the retroactive tax provisions included in the Tax Cuts and Jobs Act (H.R. 1). Sections 3501(b) and 3502(k) change the rules governing how projects qualify for wind and solar tax credits in past as well as future years, undermining investment, for example, in projects that qualified for tax credits under U.S. law and guidance last year. These provisions are so destructive that their introduction has shaken the marketplace and had an immediate negative impact on U.S. investment and job growth.

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