Bill would establish ‘victory bonds’ for clean energy investment

Two California Democrats introduced a bill that would provide a bond program that would sell bonds to pay for clean energy tax incentives.

Reps. Zoe LofgrenZoe Ellen LofgrenAl Green says impeachment is 'only solution' to Trump's rhetoric Here are the 95 Democrats who voted to support impeachment Ann Coulter offers rare praise for Ilhan Omar and Rashida Tlaib MORE and Doris MatsuiDoris Okada MatsuiHere are the 95 Democrats who voted to support impeachment Overnight Health Care — Campaign for Tobacco-Free Kids — Poll finds Trump vulnerable on health care in battleground states | HHS must respond to petition on abortion referral ban by Thursday | Wyden presses health officials about CBD regulations Lawmakers map out path forward on Medicare Part D MORE are calling the proposed bonds “victory bonds,” after war debt that the Treasury Department sold to fund World Wars I and II.

“Individual citizens helped turn the tide in World War II with victory bonds, and we can do that again for the energy and environmental challenges we face by allowing folks to invest in innovative technologies that yield a profitable return for the investor and to society,” Lofgren said in a statement.

The money raised, which the bill would limit to $50 billion, would go to fund and extend current tax credits that incentivize clean energy, including renewable energy production and investment credits, energy efficient home credits and plug-in electric vehicle credits. It would not establish any new credits or change the existing ones.

“Investing in clean energy technology spurs economic development and job creation, protects our environment, and ensures that the United States remains a world leader in the clean energy economy,” Matsui said.

Treasury would sell the bonds at denominations as low as $25.