04 Dec '17, 8pm

Senate Doubles Down on Tax Provisions That Would Harm Renewable Energy

Senate Doubles Down on Tax Provisions That Would Harm Renewable Energy

In the early hours of Saturday morning, Republicans voted 51-49 to approve their overhaul tax bill , the biggest change to U.S. tax law in decades. It has critical implications for renewable energy. “If this bill were to be enacted exactly as written in the Senate, it would have extremely negative consequences for renewable energy investment and job creation in the United States,” said Greg Wetstone, CEO at the American Council on Renewable Energy (ACORE). “Suddenly credits that had substantial value would face an environment where they have little if any value at all.” In addition to a Base Erosion Anti-Abuse Tax (BEAT) provision that could hurt tax equity investments, Republicans added a corporate tax provision back into the bill before it passed . The change was meant to bring in billions of dollars in revenue to balance the bill and win support from holdout GOP senator...

Full article: https://www.greentechmedia.com/articles/read/in-senate-ta...

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