Grid Resiliency Tax Credit Act

Congress finds the following:

(1) A robust electric power transmission system is critical to the economic, energy, and national security of the United States.

(2) The electric grid faces challenges from aging infrastructure and a need for increased electric power transmission capacity.

(3) The United States faces a pressing need to expand electric power transmission.

(4) Financial support for electric grid transmission buildout provides protection from electric rate increases that would otherwise apply to American consumers.

(5) Electric power transmission investments will—

(A) improve resilience and lower costs by enabling access to diverse generation resources across the country;

(B) increase the electric grid’s ability to weather storms and wildfire by enabling access to financial support for grid resilience measures;

(C) promote economic benefits and create new jobs in communities across the country; and

(D) enhance electric grid reliability.