Baucus urges extension of green tax credits as part of payroll tax package

Let the fossil fuels go or wind gets it in the wallet, Max.

Environment and Energy Daily reports,

Bipartisan enthusiasm for sweeping tax reform — a task considered nearly impossible to complete before the November elections — should not prevent lawmakers from swiftly extending renewable energy credits, the Senate’s chief tax writer said yesterday.

At issue for the Senate Finance Committee are dozens of tax benefits that expired last year, including the research and development credit, as well as a passel more set to run out at the end of this year unless lawmakers act. In that latter group are two credits hotly pursued by alternative energy companies, a production credit used by wind and biomass producers and a 30 percent advanced manufacturing credit

The fate of these tax “extenders,” including a Treasury Department grant program and transit deduction that ran out last year, is an especially high priority for Finance Chairman Max Baucus (D-Mont.) as he weighs which of them could hitch a ride on a payroll tax-cut package now being negotiated with House Republicans… [Emphasis added]

Read today’s Steve Milloy Washington Times commentary, “Clean Energy Hostages.”

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