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NECA Legislative Top Three 10/25/19: Expanding ITC to Nuclear

Oct 24, 2019

1. Bill Introduced to Include Nuclear in the Investment Tax Credit

Earlier this month, Rep. Darin LaHood (R-Ill.) introduced the NECA-supported bipartisan Nuclear Powers America Act (H.R. 2314 / S. 1134).

NECA’s Look Ahead: NECA has long advocated for a diverse portfolio of energy sources especially, clean and renewable energy sources such as nuclear power. Currently, the NECA-supported Investment Tax Credit (ITC) provides for many types of energy, such as solar, wind, and combined heat and power (CHP), but not nuclear. This legislation would extend the ITC to include nuclear by creating a 30 percent tax credit for refueling costs and qualified nuclear power plant capital expenditures for each taxable year through 2023. Thereafter, the credit rate would be reduced until it reached 10 percent in 2026. NECA will continue to monitor this legislation as it moves through the legislative process.

2. Education and Labor Committee to Hold Hearings on Future of Work

Earlier this month, House Education and Labor Committee Chairman Rep. Bobby Scott (D-Ill.) announced the committee would hold a handful of hearings centered on the "future of work." The hearings are intended to address worker protections, continuing education, and worker displacement.

NECA’s Look Ahead: NECA commends the committee for holding these hearings and urges those on Capitol Hill to recognize that NECA and its contractors have taken massive strides in addressing the challenges of the future. Our members remain proactive in recognizing and addressing the needs of their workforce.

3. Rep. Elijah Cummings to Lie in State at the Capitol

On October 17, 2019, after decades of political service and civil rights activism, Representative Elijah Cummings (D) of Baltimore, Maryland passed away at the age of 68. The Chairman of the House Oversight and Reform Committee lay in state in the Capitol earlier this week, an honor bestowed most recently on Senator John McCain and President George H.W. Bush.  

NECA’s Look Ahead: NECA mourns the passing of this dignified leader on the Hill and offers our condolences to family, friends and staff.