Last week, the House Ways and Means Committee completed its markup of tax provisions for inclusion in the pending budget reconciliation bill. As expected, the initial House bill does not include a WateReuse-supported provision for an investment tax credit for water reuse projects, nor does it include other provisions being championed by individual Members of the House. Rather, the Committee bill is focused on extensions of major tax provisions that expire at the end of this year as well as on priorities of the President.
The WateReuse Association has been working with Ways and Means Committee members on legislation to provide a 30 percent investment tax credit to help scale up the use of recycled water by industry. Through our efforts and those of our members, Reps. Darin LaHood (R-IL), Linda Sanchez (D-CA), Claudia Tenney (R-NY), and Brad Schneider (D-IL) introduced the Advancing Water Reuse Act (H.R. 2940) last month. Other Members of Congress have signed on since introduction.
The Ways and Means Committee markup is only the beginning. WateReuse will continue to advocate for the water reuse investment tax credit as the reconciliation bill progresses through the Senate and in negotiations between the House and Senate. Our focus remains on adding cosponsors to H.R. 2940 to show its broad support, and on introducing a companion bill in the Senate.
Read the Advancing Water Reuse Act here, and the bill summary here. |