Clean Tech Taxcess Tracker
Your Update on Energy Tax Incentives
Senate Finance Committee Ranking Republican Charles Grassley of Iowa and Finance Committee member Kent Conrad, D-N.D., introduced legislation – the Grow Renewable Energy from Ethanol Naturally (GREEN) Jobs Act of 2010 – that would extend certain energy tax incentives including the cellulosic biofuel producer credit and alcohol fuel mixture credit, among others.
Although the legislation appears to have some bipartisan support, Finance Committee Chairman Max Baucus, D-Mont., is not a co-sponsor, and his lack of support could impair the viability of the bill. Grassley and Conrad may urge Senate leaders to include these incentives in a broader energy tax bill, or in legislation extending expired tax provisions. Both legislative priorities could be considered in the near future.
Companion legislation was introduced in the House by Ways and Means Committee member Earl Pomeroy, D-N.D.
Please see attached for statutory language of the Senate legislation.