New Haven Register: Chris Murphy targets efficiency; Legislation helps manufacturers pay for energyApril 06 2012
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NEW BRITAIN — U.S. Rep. Chris Murphy announced new legislation Thursday that will provide federal grants to manufacturers for energy efficiency upgrades.
The legislation, which the Fifth District congressman from Cheshire authored and is a sponsor of, is modeled after the grants-in-lieu-of-tax credits program funded in the 2009 Recovery Act that provided a cash grant instead of a tax write-off for renewable energy investments.
Murphy announced the legislation at Peter Paul Electronics in New Britain.
“Energy costs can sometimes mean the difference between keeping a factory floor running or shutting its doors,” Murphy said in a written statement. “As businesses here in Connecticut and across the country work to dig out of this recession, it’s critical that they have every possible tool to keep their operations running as efficiently as they can.
“Tax credits or deductions only have value if a business has income that is being taxed, so for businesses that are struggling, there’s not always a lot to be gained from them.”
Murphy was joined in making his announcement by Mitch Kennedy, whose Hartford-based firm Design With Nature helps companies reduce energy usage.
Kennedy said using federal grants to promote energy efficiency is a good idea because it “will help these upgrades start paying for themselves much, much sooner.”
“This is going to have a huge impact for businesses here in Connecticut and I’m excited that Chris is taking it on,” Kennedy said.