Clean Energy Victory Bond Act of 2014

Short title— This Act may be cited as the “Clean Energy Victory Bond Act of 2014”.

Table of contents— The table of contents for this Act is as follows:

There is enormous potential for increasing renewable energy production and energy efficiency installation in the United States.

A major barrier to rapid expansion of renewable energy and energy efficiency is upfront capital costs. Government tax incentives and other assistance programs have proven beneficial in encouraging private sector development, manufacturing and installation of renewable energy and energy efficiency projects nationwide. However, these government incentives are not currently meeting demand from the private sector, and we are not taking full advantage of the potential for clean energy and transportation, as well as energy efficiency in the United States.

Other nations, including China and Germany are ahead of the United States in manufacturing and deploying various clean energy technologies, even though the United States invented many of these technologies.

Investments in renewable energy and energy efficiency projects in the United States create green jobs for U.S. citizens across the United States. Hundreds of thousands of jobs could be created through expanded government support for clean energy and energy efficiency.

As Americans choose energy efficiency and clean energy and transportation, it reduces our dependence on foreign oil and improves our energy security.

Bonds are a low-cost method for encouraging clean energy, not requiring direct budget allocations or expenditures. The projects supported through Clean Energy Victory Bonds will create jobs and business revenues that will increase Federal tax revenues, while simultaneously reducing health and environmental costs incurred by the Federal Government nationwide.

In World War II, over 80 percent of American households purchased Victory Bonds to support the war effort, raising over $185 billion, or over $2 trillion in today’s dollars.