With the Senate version of the Tax Cuts and Jobs Act (H.R. 1) passing on December 2, we’re now in the midst of House-Senate Conference for resolution of the differences between the two bills. The differences are quite significant, which suggests an intensive and difficult negotiation over the next number of days as they seek to agree on a final bill that must be approved by both chambers before heading to the President’s desk.
As we’ve stated before, both the Senate and House versions of Tax Cuts and Jobs Act contain provisions that would undermine the investment tools that have been critical to the growth of America’s burgeoning renewable energy economy.
Today we’re publishing a brief paper outlining the provisions of concern to renewable energy in the House and Senate Bills, and suggesting repairs that can keep the sector growing. The key provisions include a direct assault on renewable tax credits in the House bill, and the Alternative Minimum Tax and Base Erosion Anti-abuse Tax (BEAT) provisions in the Senate Bill. To download this overview, click here.
I was speaking with a friend the other day when she asked, “What’s going on with renewable energy tax extenders this year? Are the PTC and ITC going to be extended?” As we know, the Production Tax Credit (PTC) expired at the end of 2014 and the 30 percent Investment Tax Credit (ITC) will expire at the end of 2016. That’s in addition to a dozen other energy credits affecting biofuels, electric vehicles, and energy efficiency that have also expired.
On Friday, January 10th, the American Council On Renewable Energy announced that it had chosen a familiar face as its permanent President and CEO: Michael Brower. Michael had spent several months beforehand as ACORE’s Interim President and CEO. At the beginning of his tenure, he sat down with me to answer a few questions. Enjoy!
By Matt Lucas 9/16/13
“Washington can be a tough place”, said John MacWilliams, senior adviser to the Secretary of Energy, in his understated manner. “Luckily, we have a president who deeply cares about these issues [renewables and climate change], and he has appointed a Secretary of Energy who is uniquely qualified to address those issues.”
August 22 -- The Desert Sun supports the congressional effort to boost renewable energy through tax reform. Rep. Raul Ruiz, a Palm Desert Democrat, joined New Jersey Republican Jon Runyan and Oregon Democrat Earl Blumenauer in a letter urging action by the House Ways and Means Committee, which is leading the effort. >>View Article