What is this for and is it needed?

Hi everyone. So I'm about to paint my engine bay on my 73 dart swinger (5.2) and don't know what this part is for. Can I remove it or is it needed? I'm running a new Kwik Wire Harness and i am trying to tuck everything hidden away. I noticed it had an electrical connection to it? (Sry if my 5yr old sons finger is blocking any thing in the pic. Hes my trust worthy helper..)Gratci