Holding the line!
Bloomberg (12/16/19) reports: "The expansion of a tax credit for electric vehicles isn’t likely to appear in a broad deal being negotiated by House and Senate leaders, and backers of the popular tax break say President Donald Trump is to blame. 'There has been extreme resistance from the president,' said Senator Debbie Stabenow, a Michigan Democrat who has championed the $7,500 tax credit for consumers who purchase an electric car. She said Monday it was unlikely to be expanded...White House officials warned lawmakers that if they tried to expand the electric vehicle credit as part of a compromise spending bill, it could tank the measure, according to two people familiar with the matter. The issue is particularly heated in the West Wing and among conservatives who view the credit as mainly benefiting rich Californians and Tesla...'President Trump is fighting to protect middle-class taxpayers by opposing this welfare program for the wealthy,' said Tom Pyle, president of the American Energy Alliance, a free-market advocacy group. 'The Senate Republican leadership would be wise to follow his lead.'"
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Two out of three ain't bad.
E&E News (12/17/19) reports: "Overnight tax negotiations have yielded an agreement to extend a number of expired energy tax credits through the end of the next year after talks over a broader clean energy package collapsed. The extenders package, which will hitch a ride on one of the two minibus spending bills to be voted on this week, would revive and extend expired incentives for efficiency, alternative vehicles and biofuels through 2020, with the credits made retroactive to cover 2018 and 2019. The biodiesel tax credit — a top priority of Senate Finance Chairman Chuck Grassley (R-Iowa) — would be extended through 2022 under the deal, which was sealed following a late night meeting between Hill negotiators and Treasury Secretary Steven Mnuchin. The renewable production tax credit, currently scheduled to phase out at the end of 2019, will be extended for one year under the agreement. But the deal is silent on other top Democratic priorities in the year-end talks, including expansions of the electric vehicle credit and an extension of the investment tax credit for solar."
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“Regardless of how the company communicated its accounting practices to the public, Exxon’s multidecade climate deception has helped push humanity toward a desperate moment filled with suffering, death and grief. No court decision can change that reality."
– Lee Wasserman,
Rockefeller Family Fund
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