The Koch war on renewables continues in their campaign to halt the threats to their behemoth fossil fuel empire. Americans for Prosperity, the Kochs’ political arm, is lobbying against North Carolina’s House budget proposal, which includes the extension of tax credits for solar and renewable energy projects. Not ones to discriminate in their opposition to different types of renewable energy, Americans for Prosperity is pushing to kill all targeted renewable tax credits.
AFP won’t stop there. In a letter to the House Finance Committee, AFP’s State Director, Donald Bryson, pushed to abolish all renewable tax credits and lower personal and corporate income tax rates to exempt billionaires like the Kochs from paying their fair share.
Despite the Koch efforts to eliminate these successful programs, it’s all too clear that renewable energy credits pay dividends in private investment. According to recent estimates, between 2007 and 2014, $229.8 million in tax credits has resulted in over $2.6 billion in private investment in renewable projects.
This is just the Kochs’ latest attempt to dismantle a thriving renewable industry in North Carolina. Last week, Last week, the Koch-purchased North Carolina House issued an AFP-backed bill to limit the percentage of North Carolina’s electricity sales from renewable sources. It looks like the Kochs’ bought and paid for elected officials are handing their investors another victory in their ploy to protect profits.