Regional Leadership Council Chair Hoyer Highlights How the Investing in America Agenda is Lowering Costs and Fighting the Climate Crisis in Maryland

BOWIE, MD - As part of the Regional Leadership Council's Week of Action, Congressman Steny H. Hoyer (MD-05) joined a webinar with leaders from the Maryland League of Conservation Voters Education Fund and the U.S. Department of Treasury to inform local governments, non-profits, and other stakeholders about clean energy tax incentives made possible through the Investing in America agenda. The webinar focused on highlighting how eligible organizations could lower their long-term energy costs by implementing clean energy technology at a subsidized rate through Direct Pay provisions established in the Inflation Reduction Act.

WATCH THE WEBINAR HERE

"I helped lead Democrats in passing transformational tax incentives last Congress so that community partners in Maryland's Fifth District can lower their everyday costs while protecting our planet," said Congressman Hoyer. "By helping libraries, schools, fire departments, and other critical Maryland organizations implement green technology at lower rates, Democrats are lowering costs, cleaning up local air and water, and continuing to fight the climate crisis. Through provisions like Direct Pay established in the Inflation Reduction Act, the Investing in America Agenda is making environmentally friendly solutions more accessible in Maryland and across the county."

"Maryland League of Conservation Voters Education Fund was pleased to support this opportunity for Marylanders to learn about the opportunities available through the Inflation Reduction Act," said Kim Coble, Executive Director of the Maryland League of Conservation Voters Education Fund. "These benefits enable investments in clean energy and zero-emissions solutions, bringing us closer to our goals of clean water, healthy air, and climate-resilient communities."

"Key Inflation Reduction Act reforms are allowing local governments, nonprofits, and other community organizations across Maryland's Fifth District to lower energy costs and strengthen energy security, playing a key role in helping meet the Biden-Harris Administration's historic economic and climate goals," said Laurel Blatchford, Chief Implementation Officer for the Inflation Reduction Act at the U.S. Department of the Treasury.

About Direct Pay :

Established through the Inflation Reduction Act in 2022, Direct Pay policies empower the U.S. Department of Treasury and the Internal Revenue Service (IRS) to provide a range of organizations previously unable to access clean energy tax credits access to the innovative tool.

How it works: Tax-exempt and governmental entities can receive a direct payment of a tax incentive when installing a clean energy project in their properties. For example, a library can file an annual tax return with the IRS to claim elective pay for the full value of the investment tax credit or the production value of the tax credit, which can be anywhere from 30% - 70% of the total project cost depending on if the project meets certain bonus criteria.