Reps. Lofgren and Matsui Introduce Legislation to Increase Investment in Clean Energy Technologies
The Clean Energy Victory Bonds Act would create Treasury savings bonds to fund renewable energy projects and energy efficiency technologies
WASHINGTON, D.C. – Reps. Zoe Lofgren (CA-19) and Doris Matsui (CA-06) introduced the Clean Energy Victory Bonds Act today, legislation allowing Americans to invest in clean energy technologies and projects around the country that will create jobs and spur the rapidly growing field of clean energy technologies that will be needed to increase U.S. energy security. Patterned after the enormously successful victory bonds sold during World War II, Clean Energy Victory Bonds would allow Americans across the country to participate in the clean energy economy through safe investments that also help create jobs and protect the environment.
“We all benefit as Americans when we invest in the future of our country,” said Congresswoman Lofgren. “Individual citizens helped turn the tide in World War II with Victory Bonds, and we can do that again for the energy and environmental challenges we face by allowing folks to invest in innovative technologies that yield a profitable return for the investor and to society.”
“Investing in clean energy technology spurs economic development and job creation, protects our environment, and ensures that the United States remains a world leader in the clean energy economy,” said Congresswoman Matsui. “By providing an opportunity to all Americans who support renewable energy to invest in proven technologies, Clean Energy Victory Bonds allows us to move forward towards a cleaner and more secure future for our nation.”
Under the Clean Energy Victory Bonds Act, the Treasury Department would issue small-denomination, specifically designated treasury bonds that are widely sold and promoted to fund and extend existing tax incentives and credits that encourage the growth of renewable energy and energy efficiency technologies. The bonds would be available for purchase by individuals for as little as $25 and the proceeds would result in:
· The creation of up to $50 billion in direct investment that could be leveraged in proven incentives to accelerate the development of clean energy and clean energy technologies;
· The creation of new jobs that put Americans back to work developing clean energy technologies and building clean energy projects in communities across the country;
· Improving national security and driving increased investment into the U.S. domestic clean energy industry to reduce U.S. dependence on foreign sources of energy;
· Allowing Americans a safe opportunity to invest in the future of their country and the health and well being of the environment.
Click here for a summary of the Clean Energy Victory Bond Act. The text of the legislation can be found by clicking here. In addition to Reps Lofgren and Matsui, original co-sponsors of the Clean Victory Energy Bonds Act include (by alphabetical order) Reps. Lois Capps (D-CA-24), Tony Cardenas (D-CA-29), Matt Cartwright (D-PA-17), Judy Chu (D-CA-27), Katherine Clark (D-MA-5), Wm. Lacy Clay (D-MO-1), Rush Holt (D-NJ-12), Michael M. Honda (D-CA-17), Steve Israel (D-NY-3), George Miller (D-CA-11), Eleanor Holmes Norton (D-DC), Chellie Pingree (D-ME-1), Mike Quigley (D-IL-5), Carol Shea-Porter (D-NH-1), and Niki Tsongas (D-MA-3).
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