Urging Congress to preserve Sections 45U, 45Y, and 48E of the Internal Revenue Code.
Impact
The resolution highlights the importance of the natural gas and nuclear sector to the Texas economy, citing that these industries directly employed over 12,000 people in the state in 2024, in addition to the oil and gas industry that employed more than 492,000 Texans. A key argument for preserving the federal tax provisions is to facilitate the continued reliance on and expansion of these critical energy resources, which support economic development and the state's growth in electricity load.
Summary
SCR33 is a concurrent resolution from the Texas Legislature urging Congress to preserve Sections 45U, 45Y, and 48E of the Internal Revenue Code, which provide crucial federal tax support for new and existing nuclear technologies. The resolution emphasizes Texas's position as a national leader in electricity production, generating nearly twice as much electricity as the next highest-producing state. The emphasis is placed on how nuclear and natural gas generation plants are instrumental in providing reliable and affordable electricity, which directly benefits families and businesses throughout Texas.
Contention
While SCR33 does not present formal opposition, the context suggests that the underlying discussions around energy production may highlight potential contention. Concerns might arise regarding the focus on nuclear energy amidst broader discussions on renewable energy and environmental implications. Advocates for diversification of energy sources could argue that an over-reliance on nuclear and gas without substantial investment in renewable resources may hinder progress towards comprehensive energy solutions.