In Wisconsin, Biden Unveils Historic Tax Break for Rural Co-ops

WESTBY, WISCONSIN, September 5, 2024 – During a visit to Wisconsin on Thursday, President Joe Biden announced an historic tax break for rural cooperatives, describing it as "a game-changer."

Speaking at the Vernon Electric Cooperative in the rural town of Westby, Biden said that the new tax break ensures, for the first time in U.S. history, that nonprofit cooperatives can benefit from the same clean energy tax credits that for-profit utilities have used for decades.

“This significant change will reshape how these nonprofit organizations can finance their future,” Biden said. He said it will boost cooperatives' ability to provide affordable clean energy while freeing up resources to invest in other critical areas, such as expanding broadband access. More than 200 rural electric cooperatives across the U.S. already provide broadband services.