Posted: | April 14, 2022 03:02 PM |
---|---|
From: | Representative Timothy J. O'Neal |
To: | All House members |
Subject: | RGGI Compliance Tax Credit |
Unfortunately, as we are all aware, Governor Wolf has proceeded with his regulation forcing Pennsylvania to enter into the Regional Greenhouse Gas Initiative (RGGI). He has done so despite mounting evidence that this move is not the right one for our constituents and Pennsylvania’s energy economy. Because of his decision, power plants throughout our state will have to reconsider whether or not they can still operate while having to pay the burdensome RGGI tax, as they will be forced to buy RGGI credits in order to continue producing the electricity that we all depend on. If power plants are forced to close, significant negative economic effects will ripple throughout our local and state economies:
To mitigate the negative effects of the Governor’s actions to subject Pennsylvania to RGGI, I plan to introduce legislation that will allow eligible taxpayers to apply for a tax credit equal to the full amount the RGGI taxes they are forced to pay in order to comply with the program. By providing this relief, it is my hope that we can reverse the loss of job opportunities and economic activity that Pennsylvania will assuredly, and frankly voluntarily, be surrendering to neighboring states by joining RGGI. I respectfully ask for your consideration to join me as a co-sponsor of this essential, timely legislation. |
Introduced as HB2698