Washington (November 19, 2021) — Edison Electric Institute (EEI) President Tom Kuhn today issued the following statement:
"On behalf of America's investor-owned electric companies, EEI welcomes House passage of the Build Back Better Act. The bill’s clean energy tax incentives will benefit electricity customers, create jobs, provide long-term certainty to our industry, and create a level playing field that recognizes the role of electric companies in deploying more clean energy.
“While we are pleased that the House-passed bill includes a robust clean energy tax package, we continue to have significant concerns with the inclusion of a 15-percent corporate minimum tax on book income. Such a provision will negatively impact the capital investments electric companies make to provide their customers with safe, reliable, affordable, and resilient clean energy.
“EEI’s member companies are leading a clean energy transformation and are working to get the energy we provide as clean as we can as fast as we can, without compromising the reliability and affordability that our customers value. We plan to make major capital investments over the next several years to achieve our clean energy and carbon reduction goals. It is important to our customers that these investments be made cost-effectively. Congress should not undermine the Act’s climate goals—and raise costs for electricity customers—by imposing a minimum tax on the capital that needs to be deployed to achieve them.”