Legislative update - Initial analysis of Finance Committee staff’s discussion draft of energy tax incentive reforms 

December 19:  Senate Finance Chairman Max Baucus (D-Mont) yesterday released a staff “discussion draft” of legislative proposals related to energy tax reform.

Very generally, the proposals include a new production tax credit and investment tax credit for clean electricity and a new production tax credit and investment tax credit for clean transportation fuel.

The Senate Finance staff noted in its summary that there are 42 different energy tax incentives under current law, and the proposal aims to minimize and simplify the way energy production is incentivized through the Internal Revenue Code. The staff summary notes that the proposal focuses on “streamlining” energy tax incentives and making them more “predictable and technology-neutral.”

Read a December 2013 report [PDF 268 KB] prepared by KPMG LLP, that provides an initial analysis of these proposals.

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