11-10-2017, 07:01 PM
These tax plans tilt the system in favor of fossil fuels (in addition to Rick Perry's proposals to subsidize coal and nuclear energy):
Quote:While preserving $15 billion in tax subsidies for the fossil fuel industry, the bill would slash incentives for renewable energy and the electric car industry. Environmental groups are frantic. A coalition of 17 groups sent a joint letter to House members on Wednesday assailing the hypocrisy: “Despite rhetoric from GOP leaders that the tax code shouldn’t pick winners and losers, this bill very clearly picks polluting energy sectors as winners yet again, putting at risk the impressive growth of clean energy and robbing us and our children of a cleaner future.”The Republican Tax Plan Is an Assault on Renewable Energy | New Republic
The House provision raising the most ire are proposed changes to the renewable electricity production tax credit, which benefits producers of wind, solar, geothermal and other types of renewable energy. Already scheduled to be phased out by 2020, the PTC would be cut by more than a third under the House bill. An analysis by Clearview Energy Partners said the proposal could reduce the credit’s value by up to 45 percent..