Federal Income Tax
Federal Income Tax
Tax credits and incentives can empower households and businesses to become more energy efficient because they provide a dollar-for-dollar reduction in the amount of income tax otherwise owed. The American Association of Blacks in Energy follows six guiding principles to support federal income tax incentives.
Values
AABE recognizes the significance of federal income tax incentives.
- We value federal income tax reforms which support nascent energy technologies that reduce costs for low-income and underserved consumers.
- We value the participation of historically underserved communities in discussions on federal income tax policy.
Supports
AABE helps to inspire the development of programs that support federal income tax incentives.
- We support modernizing, simplifying, and reforming the United States Tax Code to reduce the burden on the energy industry which will, in turn, lead to a more competitive environment, create new jobs, and spur economic development.
- We support a properly structured federal rule to standardize the treatment of deferred taxes for ratemaking purposes, benefiting regulated energy companies.
Promotes
AABE works to further the progress of federal income tax incentives. We promote investments in the energy industry to create opportunities and jobs for underserved and underrepresented communities.
advocates
AABE takes action to create equitable federal income tax solutions.
We advocate for the permanent extension of reduced dividend rates, regardless of potential U.S. Tax Code changes, recognizing the U.S. energy industry’s long-standing dividend contributions and its role in job creation, especially for underserved communities.