The Hill piece covers reactions to WH opposition to tax credits for electric cars and renewable energy in wake of GM’s recent plant closings announcement. including AEE’s perspective quoting Dylan Reed, Head of Congressional Affairs. Link to the full piece here.
Excerpts of The Hill story are below:
President Trump’s chief economic adviser Larry Kudlow has put the administration on record opposing tax credits for electric cars and renewable energy…
Support for the tax incentives generally falls along party lines, with Democrats united in backing them and most Republicans in opposition.
But observers say the White House’s call to end the credits is likely to fall on deaf ears in Congress and that there is little appetite among lawmakers to roll them back.
House Democrats, set to take their chamber’s majority next month, are particularly unlikely to be amenable to repealing incentives for clean energy.
“Congress made a pretty clear commitment to, in a smart way, phasing down those tax credits,” Dylan Reed, head of congressional affairs at clean-energy group Advanced Energy Economy, said of the tax credits for wind and solar energy.
“And if you look at the tax reform discussions from last year, the House started to talk about that a little, but it didn’t make it through.”…
For renewables, companies that generate wind power get a federal production tax credit (PTC) based on the power they produce, and solar power companies get an investment tax credit (ITC) for a percentage of the money they spend on equipment…
As for electric vehicles, debate in Congress has largely focused on expanding the tax credit, not repealing it.
GM and Tesla Inc. are both close to reaching the 200,000-car threshold in which their credits would phase down. They and other companies have pushed for lawmakers to lift the cap…
Reed said supporting electric vehicles would align with Trump’s priorities in boosting domestic manufacturing.
“The U.S. is a world leader when it comes to electric vehicle manufacturing, whether that be Tesla in Nevada or GM or Proterra in South Carolina,” he said.
“The president has made clear that he wants to see manufacturing jobs in the United States, and the electric vehicle industry is actually one of the places where we’re a world leader.”
See the complete Hill story here.