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The Inflation Reduction Act of 2022 (IRA), President Biden’s signature climate bill, passed solely by Democrats, contains lucrative, essentially uncapped subsidies for wind and solar-generated power. Under current law, the tax credits phase out over four years, starting in either 2032 or when the U.S. power sector’s greenhouse gas emissions fall to a quarter of […]
WASHINGTON DC (6/18/25) – The Senate Finance Committee released its draft text for the budget reconciliation bill this week, notably preserving many of the “clean energy” tax incentives that House Republicans have dramatically scaled back. American Energy Alliance President Thomas Pyle issued the following statement: “The Senate Finance proposal extends subsidies for solar and wind […]
The Senate Finance Committee released its draft legislation of the reconciliation bill on Monday and, although the main structure of the bill remains the same as the house version, there are some notable differences in some of its energy provisions. Unfortunately, some of these differences are steps backward in that they replace the House bill’s […]
Early Thursday morning, the House passed its version of the Republican reconciliation legislation package. The two main goals of the legislation are extending the 2017 Tax Cuts and Jobs Act and rolling back the 2022 Inflation Reduction Act (IRA). Republicans made a lot of changes over the past week, with conservative members of the House […]
The Federal government has already spent well over $100 billion on renewable credits for electricity production since their enactment three decades ago, and the “Inflation Reduction Act” will cost taxpayers another $98 billion. The proposed bill is full of incentives for renewable energy technologies, chief among an extension of wind and solar tax credits significantly increasing […]
On November 19, the House of Representatives passed a $2 trillion budget bill with a long list of increases in federal royalties and fees, plus new fees, new taxes, and barriers to leasing in the Arctic National Wildlife Refuge, the Pacific, Atlantic, and eastern Gulf of Mexico. It passed on a party-line vote of 220-213 and was […]
After many months of speculation, we have the text of the tax extenders package. As expected, the deal extends a host of small expired or expiring tax provisions from the last several years. On the energy front, however, taxpayers have mostly dodged a bullet. With the exception a 5-year extension of the biodiesel tax credit and […]
Last week, following the grand tradition of Oprah whereby guests receive free gifts just for attending, Democrats on the House Ways and Means Committee, led by Rep. Mike Thompson, announced a draft bill dubbed the Growing Renewable Energy and Efficiency Now Act (or GREEN Act). But a better name for it would be the Everybody […]
WASHINGTON – Thomas J. Pyle, President of the American Energy Alliance, has issued the following statement on today’s release of the Tax Cuts and Jobs Act: “This pro-growth tax reform plan is a breath of fresh air for American businesses and the American people. The immediate lowering of the corporate tax rate to 20 percent will […]
The upcoming expiration of the Investment Tax Credit (ITC) is leading to a record number of solar panel installations as companies rush to exploit the subsidy. The ITC, along with a favorable depreciable tax basis, allows companies to write off as much as 60 percent of the property’s value at taxpayers’ expense. However, not all […]