Energy Tax Policy: Issues in the 113th Congress [May 8, 2014]   [open pdf - 439KB]

"The 113th Congress is considering the possible extension of several expired energy tax provisions. The Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act of 2014 (S. 2260) would temporarily extend, through 2015, most expired energy tax provisions, including the renewable energy production tax credit (PTC). Under current law, renewable energy projects that begin construction after the end of 2013 will not qualify for the PTC. Other expired energy tax provisions include those that support building energy efficiency and renewable and alternative fuels. Energy tax policy may also be considered as part of comprehensive tax reform legislation in the 113th Congress. A base-broadening approach to tax reform might consider the elimination of various energy tax expenditures in conjunction with a reduction in overall tax rates. This was the approach taken in House Ways and Means Committee Chairman Dave Camp's proposal, the Tax Reform Act of 2014. Alternative revenue sources, such as a carbon tax, may also be evaluated as part of the tax reform process. The President's FY2015 budget proposes a number of changes to energy tax policy. The Obama Administration proposes to repeal a number of existing tax incentives for fossil fuels, while providing new or expanded incentives for alternative and advanced technology vehicles, renewable electricity, energy efficiency, and advanced energy manufacturing."

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CRS Report for Congress, R43206
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