Congressman Tom Kean Jr. Introduces Bipartisan Bill to Expand Offshore Wind Energy Tax Credits
WASHINGTON, D.C. — Congressman Tom Kean Jr. of New Jersey’s 7th Congressional District has introduced a new bipartisan bill aimed at expanding tax credits for offshore wind energy development, a move expected to accelerate renewable energy infrastructure along the Atlantic Coast. The legislation, co-sponsored by Representatives from both parties, proposes increasing the Investment Tax Credit for offshore wind projects from 30 percent to 40 percent for facilities commencing construction through 2026. Proponents argue the incentive will attract private investment, create thousands of jobs in coastal communities, and help the United States meet its clean energy targets. Congressman Kean’s office released a statement emphasizing the bill’s focus on energy independence and economic growth. The proposal will now be referred to the House Ways and Means Committee for further deliberation.