A Positive Role for Federal Tax Policy in Promoting Energy Security and Reducing Emissions Intensity

As the Congressional debate on U.S. energy policy and on measures to combat the potential threat of climate change continues, the ACCF Center for Policy Research offers this special report that presents new data showing the United States lags far behind our international competitors in providing pro-investment incentives for energy assets. The need for enhanced energy supplies to help insure strong U.S. domestic growth as well as facilitate strategic preparedness in these uncertain times is a major reason for the extended congressional debate on energy policy. In addition, the release of the Bush Administration’s “U.S. Climate Change Strategy: A New Approach,” with its focus on the development of new technologies for efficient energy production to reduce emissions intensity and its proposals for tax credits and tax incentives, suggests that a careful review of the adequacy of the provisions of the U.S. tax code is in order.

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