How Democrats want to change the energy tax code
- Ben Geman, author of Axios Generate
Ways and Means Committee Chairman Rep. Richard Neal (D-Mass.). Photo: Bill Clark/CQ-Roll Call, Inc via Getty Images
House Democrats on the tax-writing Ways and Means Committee have unveiled draft legislation that would extend and/or expand a suite of tax credits for climate-friendly energy sources.
Why it matters: The tax code has historically been a driver of solar and wind power deployment, as well as electric vehicle sales, and much more.
- Provisions in the sweeping bill include new tax credits for energy storage projects and triple the number of EV sales per manufacturer that qualify for consumer purchase credits.
Where it stands: It is unclear how much this bill is in play in this Congress, and the White House is on the record opposing EV tax credits.
- Ways and Means Chairman Richard Neal has signaled that some provisions could be part of year-end negotiations with the Senate on various tax break extensions, according to E&E News.
Quick take: Beyond its near-term prospects, the bill could be a template for how Democrats want to tackle energy tax policy if they gain more power in Washington in the 2020 elections.
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