Senate Finance Committee held hearing on tax credits for investments in coal communities
Tax credits incentivize building clean energy in communities with economies dependent on coal, oil, and natural gas
Casey also invited Patty Horvatich of Pittsburgh Regional Alliance, an affiliate of the Allegheny Conference on Community Development, to testify on impacts of tax credits for Southwestern Pennsylvania
Watch Casey’s line of questioning to Horvatich HERE
Washington, D.C. – Today, the Senate Finance Committee held a hearing to examine tax credits that Senator Casey fought to include in the Inflation Reduction Act that will incentivize the creation of good-paying jobs and investment in energy communities—areas with economies that are or have been dependent on coal, oil, and natural gas. Senator Casey’s tax credits will encourage companies to build and manufacture new energy projects in the communities that have powered our Nation for generations.
“Coal communities are uniquely qualified for new energy jobs. They have powered the American economy since the Industrial Revolution and Pennsylvania energy workers have the skillset and resources to build new energy and manufacturing projects in coal communities,” said Senator Casey. “I fought for these tax credits so that Pennsylvania can continue our storied tradition of powering our Nation forward.”
As a member of the Senate Finance Committee and author of the tax credit, Senator Casey invited Patty Horvatich, Senior Vice President, Business Investment at the Pittsburgh Regional Alliance, an affiliate of the Allegheny Conference on Community Development, to testify on how Southwestern Pennsylvania is well-equipped to compete for new energy and manufacturing investments and to explain the impacts they will have on the region.
“The [Inflation Reduction Act’s] tax credits, especially those bonus credits that incentivize investments in former coal communities, will ensure that we can bring increased federal commitments to catalyze investment in these communities,” Ms. Horvatich said in her opening statement. “… These new federal tax credits help us to be competitive on a global scale. They keep us in the game.”
Watch Senator Casey and Patty Horvatich’s exchange on the importance of investing in energy communities here.