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G.O.P. Bill Adds Surprise Tax That Could Cripple Wind and Solar Power (www.nytimes.com)

submitted 5 days ago* (last edited 5 days ago) by Powderhorn@beehaw.org to c/politics@beehaw.org

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Senate Republicans have quietly inserted provisions in President Trump’s domestic policy bill that would not only end federal support for wind and solar energy but would impose an entirely new tax on future projects, a move that industry groups say could devastate the renewable power industry.

The tax provision, tucked inside the 940-page bill that the Senate made public just after midnight on Friday, stunned observers.

“This is how you kill an industry,” said Bob Keefe, executive director of E2, a nonpartisan group of business leaders and investors. “And at a time when electricity prices and demand are soaring.”

The bill would rapidly phase out existing federal tax subsidies for wind and solar power by 2027. Doing so, many companies say, could derail hundreds of projects under development and could jeopardize billions of dollars in manufacturing facilities that had been planned around the country with the subsidies in mind.

Well, that's not good.

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[–] silence7@slrpnk.net 4 points 5 days ago

Here's a gift link giving free access to the article for 30d