WASHINGTON—U.S. Senators Chris Murphy (D-Conn.) and Richard Blumenthal (D-Conn.) on Friday joined U.S. Senator Edward J. Markey (D-Mass.) in sending a letter to the U.S. Department of Treasury (Treasury) and the U.S. Internal Revenue Service (IRS), requesting that they provide information on the expected timeline for the final guidance on the domestic content and energy communities bonus tax credits. The senators asked Treasury and the IRS to quickly release final and strengthened guidance so that states can maximize ratepayer savings and contribute to a clean energy economy.

The letter was also signed by U.S. Senators Elizabeth Warren (D-Mass.), Sheldon Whitehouse (D-R.I.), and Jack Reed (D-R.I.).

The senators wrote: “Without a clear understanding of whether—and to what extent—offshore wind projects would qualify for the domestic content and energy community bonus tax credits, developers may be forced to bid at unnecessarily high prices or may be unable to secure needed project financing due to an inflationary market and congested supply chain. Guidance will create much needed certainty for the offshore wind industry, especially when it comes to procurement.”

The senators continued: “Governors of Massachusetts, Connecticut, Maryland, New Jersey, New York, and Rhode Island have already written to you reiterating the importance of quickly finalizing the domestic content and energy community guidance and warning that inaction or delay could threaten offshore wind projects in their states. We share their concerns and urge Treasury and the IRS to promptly provide information on the guidance release timeline and strengthen the final guidance for the energy community bonus tax credit.”

Full text of the letter is available here.