Lofgren and Matsui Introduce Legislation to Increase Investment in Clean Energy Technologies
WASHINGTON, D.C. – As high-stake negotiations to reach a new global climate accord unfold in Paris, U.S. Reps. Zoe Lofgren (D- Calif.) and Doris Matsui (D- Calif.) introduced legislation today to spur American investment in clean energy projects, create jobs, support the rapidly growing field of clean energy technologies needed to combat climate change, and help the U.S. achieve energy security.
Modeled after the enormously successful victory bonds of World War II, the Clean Energy Victory Bonds Act of 2015 allows Americans to participate in the clean energy economy through safe investments that improve public health, boost economic growth, and protect the environment.
"When Americans invest in a clean energy future for our country, we all benefit," said Lofgren. "Individual citizens helped turn the tide in World War II with Victory Bonds, and we can do that again in the battle against climate change by allowing any American to invest in innovative technologies that yield a profitable return for the investor and to society."
"Americans have always had a spirit of innovation," said Matsui. "Just as citizens during World War II joined together for the greater good through the purchase of Victory Bonds, so too can current and future generations through Clean Energy Victory Bonds. The Clean Energy Victory Bonds Act will allow Americans to invest in renewable and energy efficient technologies that will strengthen our economy, save energy, and provide for a brighter future for this country. The United States' leadership on clean energy is particularly critical as international climate change negotiations continue in Paris."
The Clean Energy Victory Bonds Act directs the Treasury Department to issue small-denomination treasury bonds expressly designated to fund and extend existing tax incentives and credits that encourage renewable energy growth and energy efficient technologies. The bonds would be available for purchase by individuals in denominations as low as $25.
The proceeds would provide:
- up to $50 billion in direct investment leveraged in proven incentives to accelerate the development of clean energy and clean energy technologies;
- new jobs that put Americans to work developing clean energy technologies and building clean energy projects across the country;
- improvements to national security with increased investment into the U.S. domestic clean energy industry, reducing U.S. dependence on foreign sources of energy;
- a safe opportunity for Americans to invest in the future of their country and the health and well-being of the environment.
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