ABSTRACT

Energy Tax Policy: Issues in the 114th Congress [January 22, 2015]   [open pdf - 426KB]

"A number of energy tax provisions expired at the end of 2014. Expired provisions include those that support renewable electricity (the production tax credit (PTC)), provisions that support energy efficiency in both residential and commercial buildings, and tax credits for certain biofuels and other alternative fuels. Like the 113th Congress, the 114th Congress may choose to address expired energy tax provisions. The Tax Increase Prevention Act (P.L. 113-295), enacted late in the 113th Congress, temporarily extended, through 2014, most expired energy tax provisions. Energy tax policy may also be considered as part of comprehensive tax reform legislation in the 114th 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 the Tax Reform Act of 2014 (H.R. 1), introduced late in the 113th Congress by then-Chairman of the House Ways and Means Committee Dave Camp. Alternative revenue sources, such as a carbon tax, may also be evaluated as part of the tax reform process. The Obama Administration has also proposed a number of changes to energy tax policy as part of its annual budget proposal. In the past, the Administration has proposed repealing 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."

Report Number:
CRS Report for Congress, R43206
Author:
Publisher:
Date:
2015-01-22
Series:
Copyright:
Public Domain
Retrieved From:
The National Agricultural Law Center: http://www.http://nationalaglawcenter.org/
Format:
pdf
Media Type:
application/pdf
URL:
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