Looking out slightly longer term, the crazy, radical ideas that we have in the book are things like-- how many of us have heard of the Earned Income Tax Credit ? Good. This is basically a negative income tax for people lower down on the wage and income distribution.It rewards a dollar of work with more than $1 via the income-tax system.
Utilities are very nervous about solar penetration for a variety of reasons. That tax credit is slated to sunset at the end of 2016 entirely for residential properties and it will drop from 30% percent
Utilities are very nervous about solar penetration for a variety of reasons. A 30% tax credit available for solar installers and that can be at the utility level, it can
are supporting public charging stations around the country. And through the federal tax credit . If you bought an electric vehicle, you would get somewhere between $2,500 and $7,500 in a federal tax break, which is certainly
So net zero energy has gotten the financial thumbs up. We have 30% federal tax credit .
Now my whole life was about tax fairness. That's why I got on the Ways and Means as a member of the House in Congress. And workin' for President Clinton, President Obama, I doubled the earned income tax credit . And not only doubled it and fought Republican's attempts to fight it, in my office we used it with the tax assistance program to fill out tax forms for working poor 'cause I fundamentally in the marrow of my bones believe if you're
owns it until it sells it. Okay? That’s the way it’s done all the time, we did it in Continental Illinois, we do it all the time. But what we did in this crisis, the between spending and the tax cut. An investment tax credit is that kind where you say to a firm, if you spend money on investment, we will pay part of that cost through a tax credit .
policy. They actually have maternity leave in a way that we do not as our law. They actually provide a childcare tax credit that makes it not punitively expensive to go to work after having a child, and they do any number of other things at the level of the system and for everybody.
generally you need to think about how we construct an income supplement that works much better than the earned income tax credit and also what might be called and is called a lot of things but a guaranteed minimum income in the future we are also going to have to get
universal basic income there's also something that needs to be expanded right now and can be we don't have to wait to the universal basic income and that's called a earned income tax credit that is a wage subsidy and if you have the hardest problem has to do with groups of
Utilities are very nervous about solar penetration for a variety of reasons. There is a federal investment tax credit .
We also do policy advocacy. So I mentioned the federal tax credit , which is helpful. But it's also helpful to have states incentives.
And just today I drove the car in because I thought maybe we could take some test drives, get some butts in seats if people wanted to do it You asked about the federal tax credit .
And just today I drove the car in because I thought maybe we could take some test drives, get some butts in seats if people wanted to do it So there's the federal tax credit , there's the state credits.
So why should we care about wealth shares? There would be a special tax credit for these firms.
They look at the acquisition costs of solar. You deduct the local incentives, tax rebates, and whether that's an investment tax credit or what used to be the cash grant. And that is a net cost for solar and you divide that by the expected amount of kilowatt hour of output for the next 30 years 'cause these things last. And that resulting number is your per kilowatt hour cost. And if that number compares favorably with the number that you
Well, it turns out the first of these temporary provisions was given to us by Reagan in 1981. Congress passed the Research and Development Tax Credit . But because the Democrats were skeptical about whether it would work, they made the tax credit temporary.
And it's just-- we're asking poor people to do an impossible thing. And then every time they talk about the child tax credit conversations that were recently going on, Manchin was saying like, oh no, we need work requirements. And that is just-- it's so horrible, because poor people are working so hard.
What happens there? That's been a question, too. Is there some kind of retroactive reimbursement or tax credit that you get? Also, what happens if you borrow loans next week?
So now to look at what's happening here-- I don't want people to forget that there was a fight from many, many years And I've fought so hard to have the tax credit and everything else.
Well, why don't we go right into your policy prescription for this? So you have an idea about expanding the Earned Income Tax Credit so that every working American who lives in a household earning less than $50,000 a year could receive a guaranteed income of at least $500 a month.
And it can be the kind of thing that we do. So we can talk a little bit about the Earned Income Tax Credit and the frameworks, but at the end of the day what I'm interested in is embracing the dignity and the freedom that I think everybody should have to be able to figure out
The Eastern Band of Cherokee have one. And then majorly there's the Earned Income Tax Credit . We have the largest cash-transfer program in the world.
Certainly make sure that there's room for healthy debate of political kinds of issues, Whereas if you talk about a monthly earned income tax credit -- many of them were single moms-- that recognizes what they were
And so we had applied for the California tax credit which is really, really hard to get.
don't have that kind of person and you're raising not only that problem but an even bigger problem and every everything that they are entitled to food stamps Earned Income Tax Credit
The state of Vermont gave a 30% capital tax credit to that organization.
They get a $0.24 per kilowatt hour production tax credit .
So net zero energy has gotten the financial thumbs up. And then we did get a historic preservation tax credit , which hopefully will come in the mail
As I suggested we could have a more progressive tax system combined with something I did not mention and that is a bigger earned income tax credit .
I think we need to make a down payment. We can and should make a down payment today in modernizing the Earned Income Tax Credit , making it monthly, creating a kind of guaranteed income for a lot of people.
Yeah. And EITC is their earned income tax credit .
don't have that kind of person and you're raising not only that problem but an even bigger problem and not doing it we should be earlier you were talking about the earned income tax credit and how it's not sufficient um
don't have that kind of person and you're raising not only that problem but an even bigger problem and there's a big industry uh that rakes off a lot of that Earned Income Tax Credit
And just today I drove the car in because I thought maybe we could take some test drives, get some butts in seats if people wanted to do it And even some of the plug-in hybrids will get you that much of a tax credit .
And just today I drove the car in because I thought maybe we could take some test drives, get some butts in seats if people wanted to do it But I think most people's experiences is that they will get the full tax credit of $7,500.
Certainly make sure that there's room for healthy debate of political kinds of issues, And by the way, even though it's called a tax credit , the way that's experienced is people just get cash.
don't have that kind of person and you're raising not only that problem but an even bigger problem and could you talk about what's wrong with it and I explain it in the problems yeah the ored income tax credit uh the three
don't have that kind of person and you're raising not only that problem but an even bigger problem and and thirdly most people many people about half the people who are entitled to the Earned Income Tax Credit don't even know they're entitled and so
Just put it on your driveway, and you still get the tax credit .
But it's also helpful to have states incentives. So for example, state rebates that are on top of the federal tax credit . And I'll mention the Massachusetts one in a few minutes.
So why should we care about wealth shares? To fix the Bush mistake, there would be a special tax credit for firms that have broad-based stock option and stock granting
So those I think are two examples of how the science can be turned into an actual product, with a financing product around it. Which has been very very beneficial. Now, in closing, very much a developing industry. You can't just say there's a tax credit one year for solar. And we take it away the next year. Because you can't build a business on that.
So those I think are two examples of how the science can be turned into an actual product, with a financing product around it. Which has been very very beneficial. Now, in closing, Like in the US right now, the issue is that the wind energy production tax credit , like it's expiring at the end of this year. So there's a lot of uncertainty in the wind markets
Congress passed the Research and Development Tax Credit . But because the Democrats were skeptical about whether it would work, they made the tax credit temporary. They said they would test it after a number of years.
owns it until it sells it. Okay? That’s the way it’s done all the time, we did it in Continental Illinois, we do it all the time. But what we did in this crisis, the Or if you hire a worker, then we will pay part of that cost through a tax credit . Now,
say, "Okay, I'm going to run for the Democratic nomination and I think we should give a child tax credit for this." And I think, I mean, these are little tinkering, tweaking things when we have a
The standard response is, more training, and perhaps either earned income tax credit or universal basic income.
So I think that might more interact with policies around welfare, or food stamps, or the Earned Income Tax Credit , probably actually the Earned Income Tax
to cities; it goes to these public housing authorities or states. Also, the treasury has a very important and significant program, the Low-Income Housing Tax Credit . They administer