Energy and Climate Debate -
It’s a race to the end of the year, and the end of this week, for Congress, at it wraps up negotiations on tax extenders, the omnibus appropriations package, and other end of the year measures; for the Administration, as it works to finalize related issues; and for the international community, as the United Nations Framework Convention on Climate Change concludes its international climate negotiations in Paris this week.
Congress will need a few days beyond the December 11 deadline to finalize the omnibus spending deal, with policy riders providing the biggest obstacle to negotiating a final agreement. The measure may include a tax extenders package, which may take the form of a larger compromise agreement or something similar to the fairly straight two-year agreement the Senate Finance Committee approved this summer. Though the likelihood of accomplishing a broader package changes by the day, in addition to business extenders and middle class tax package issues, energy issues in some scenarios include lifting the crude oil export ban, extending, adding commence construction language, and gradually phasing out the production tax credit, the investment tax credit, and the 48C Advanced Energy Manufacturing Tax Credit, creating a capped investment tax credit for offshore wind, reauthorizing the Land and Water Conservation Fund, and other measures.
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