Bridge to a Clean Energy Future Act of 2015

The Bridge to a Clean Energy Future Act of 2015 proposes a significant shift in federal energy policy by extending tax incentives for renewable energy while eliminating long-standing tax preferences for the oil and gas industry. The bill would extend through 2016 various tax credits for homeowners who make energy-efficient improvements, consumers who purchase fuel cell vehicles, and businesses that produce biofuels or renewable electricity. To offset these costs, the legislation would repeal several deductions and credits used by oil and gas companies, such as those for drilling costs and domestic production activities.

For the average citizen, this bill would primarily impact household finances through the continuation of tax breaks for residential energy efficiency and alternative fuel refueling equipment. It also aims to encourage the growth of the clean energy sector by allowing renewable energy projects to be structured as publicly traded partnerships, potentially increasing investment in green infrastructure. While the bill supports lower costs for sustainable technologies, it simultaneously removes federal subsidies for traditional fossil fuel production.