U.S. Senators Sherrod Brown (D-OH), Charles Schumer (D-NY), Jeff Merkley (D-OR), Robert Casey (D-PA) and Kay Hagan (D-NC) recently introduced a bill (S.3324) to expand and improve the Advanced Energy Manufacturing Tax Credit (48C) program. The bill, entitled the “Security in Energy and Manufacturing (SEAM) Act,” is the companion bill to H.R.5041, introduced in the House by Rep. Phil Hare (D-IL) in April. The legislation would provide an additional $5 billion for the Advanced Energy Manufacturing Tax Credit program, which provides a 30 percent tax credit for the creation of new manufacturing facilities that produce alternative energy components. The text of the legislation is not yet available. Read more…
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