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The Congressional Budget Cut Clean Energy Tax Breaks
"In the massive federal spending package that Congress passed [in December], just in time to head off a government shutdown, lawmakers showed they are in no hurry for the clean energy future," reports James Bruggers and Larianne Lavelle.
"They strategically slashed most of the tax credit extenders that analysts saw as this Congress' best opportunity to accelerate renewable energy and cut U.S. greenhouse gas emissions. All that remained of the package at the end of months-long negotiation and debate were measures that will be politically useful to Republicans—most notably, biofuel subsidies."
The Rhodium Group produced analysis of the benefits of the tax breaks for zero-emitting electricity generation, finding that the tax breaks would have reduced greenhouse gas emissions by 125 million tons by 2025. Instead of benefits, concludes Rhodium, the new budget contains consequences, and "no tangible emissions benefits."
More details of the setbacks for the various federal tax breaks for various clean energy applications are included in the article.