WASHINGTON, D.C. — U.S. Senators Chris Coons (D-Del.) and Jerry Moran (R-Kan.) have introduced legislation, S. 3275, or Master Limited Partnerships (MLP) Parity Act, which gives renewable energy projects access to a tax incentive available now only to oil, gas, and coal projects.
The act could “level the energy playing field by giving investors in renewable-energy projects access to a decades-old tax advantage now available only to investors in fossil fuel-based energy projects,” they noted in their press release. “The Master Limited Partnerships Parity Act is a straightforward, powerful tweak to the federal tax code that could unleash significant private capital by helping additional energy-generation and renewable fuels companies form master limited partnerships, which combine the funding advantages of corporations and the tax advantages of partnerships.”
Senator Coons said: “Despite all the political rhetoric about the need for an all-of-the-above energy strategy, our current tax code clearly picks winners and losers in the energy space.” He told press, “The MLP Parity Act helps level the playing field by giving investors in renewables and non-renewables access to the same highly attractive master limited partnership business structure. Congress should be setting a realistic and stable policy pathway to sustain innovations in domestic energy development, and help the market work to its fullest potential. That starts with leveling the playing field and giving renewable energy the same shot at market success as fossil fuels.”
Prometheus Institute 