Senate Leaders Scrap Renewable Energy Tax
Source: E&E News by Politico
Senate leaders have agreed to remove a new excise tax on wind and solar projects from their megabill in order to secure enough support for passage.
The new tax was based on a project’s compliance with strict sourcing requirements. It will likely be removed in a broad amendment ahead of the megabill’s final Senate approval Tuesday, three people familiar with the negotiations said.
The new language would also keep investment and production tax credits for wind and solar through June 2026 and base eligibility on when projects start construction. That’s more generous than what conservatives wanted.
But in a nod to conservative concerns about being too lenient on climate law credits, projects would need to be placed in service by the end of 2027.
Read more: https://www.eenews.net/articles/senate-leaders-scrap-new-tax-on-renewable-energy/
Three Card Monte to keep our eyes off other parts of this drastic bill.
Followup to, https://www.democraticunderground.com/10143488864
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