U.S. Representative Phil Hare (D-IL), last week introduced the Security in Energy and Manufacturing (SEAM) Act (H.R.5041) to extend and improve the Advanced Energy Manufacturing Tax Credit program. The program was enacted last year through the American Recovery and Reinvestment Act to provide a 30 percent tax credit for the creation of new manufacturing facilities that produce alternative energy components. The SEAM Act would provide an additional $5 billion and allow the departments of Treasury and Energy to issue grants in lieu of tax credits. Read More…
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