Geothermal Tax Credits to Be Reintroduced in Latest Republican Tax Reform Bill
Retroactive credit could be used dating back to Jan. 1, 2017
SPRINGFIELD, Ill. — The Geothermal Exchange Organization (GEO) is pleased to announce that the extension of the residential and commercial tax credits for geothermal heat pumps is contained in the tax bill just released by the U.S. House of Representatives.
The coordinated campaign led by GEO for the past two years has resulted in Kevin Brady, R-Texas, chairman of the House Ways and Means Committee, and Paul Ryan, R-Wis., Speaker of the House, agreed with GEO's position that Congress picked winners and losers when tax credits for solar and wind were extended in December of 2015. Since that time, GEO has worked tirelessly to fix this tax inequity.