Climate Change Technology Initiative: $4.0 Billion in Tax Incentives


THE WHITE HOUSE
Office of the Press Secretary


For Immediate Release February 3, 2000

Climate Change Technology Initiative:
$4.0 Billion in Tax Incentives

The President is proposing a new $4.0 billion package in tax incentives over five years to help reduce greenhouse gas emissions by spurring the purchase of energy efficient products and the use of renewable energy (see Table 2).

Table 2. CCTI Tax Incentives ($ in Millions) Revenue Effect     

 

 

  FY 2001 Total FY01-05
Homes and Buildings    
Provide tax credit for energy efficient building equipment -18 -201
Provide tax credit for new energy efficient homes - 82 -633
Provide tax credit for solar energy systems -9 -132
Vehicles    
Extend tax credit for electric and fuel cell vehicles and provide tax credits for qualified hybrid vehicles 0 -2078
Clean Energy    
Extend tax credit for electricity produced from wind and closed- loop biomass; provide credits for open-loop biomass facilities and coal-biomass cofiring; and provide credits for methane from certain landfills -91 -976
Industry    
Provide 15-year recovery period for distributed power property -1 -10
TOTAL** -201 -4030
**Total may not add due to rounding.    

HOMES AND BUILDINGS

VEHICLES

CLEAN ENERGY

INDUSTRY



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Action To Ban Genetic Discrimination In The Federal Workplace

Statement on Low Income Home Energy Assistance

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Steps to Ensure Full Participation in Census 2000

New Report on Gun Violence in Public Housing

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President Clinton Calls for Passage of His Historic FY2001 Native American Initiative - February 25, 2000

International Clean Energy Initiative

The Clinton-Gore Economic Record: Strong and Sustained Growth

Report On Gun Industry

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Supporting Passenger Rail for Our Nations Transportation Future

National African American History Month, 2000

New State-By-State Report Demonstrating Urgent Need for Medicare Reform


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