A Holiday Christmas Present!

Source: By Anthony Adragna, Politico • Posted: Friday, December 22, 2017

The Senate Finance Committee gave out special interest holiday gifts Wednesday in the form of a bill that will revive, extend or expand just about every energy credit anyone ever lobbied for, Pro Tax’s Aaron Lorenzo reports. Tax writers didn’t do a bunch of creative heavy lifting, since they mostly changed the end dates for credits that were gone.

Cold water: Ways and Means Chairman Kevin Brady said Wednesday he “doesn’t want to do extenders” right now, but said he’d turn to a strategy for how to advance them “after we get back” from the holiday break, Aaron also reports. A spokesperson for Senate Finance Chairman Orrin Hatch wouldn’t offer specifics on timing either but said the Utah Republican wants to addressing the extenders “in short order.”

The heavy hitters: The bill includes all three of the credits that have attracted the most support: A nuclear tax credit extension, an expansion of the carbon capture tax credit, and the biodiesel blenders’ credit. Those three credits bring the support of South Carolina’s delegation, the Midwesterners, and the unusual combination of states concerned about climate change and states with heavy coal production.

And the list: Santa gathered up all the wishlists and compiled them together into this bill. This bill retroactively applies and extends tax credits through 2018 for biodiesel blenders, cellulosic biofuel producers, fuel cells, energy efficient homes, energy efficient commercial buildings, small wind, two-wheeled electric scooters, solar water heaters, geothermal heat pumps, and coal production on Indian land.

The one that got away? Sen. Chuck Grassley had made no secret that he wanted to convert the biodiesel blenders’ credit, which goes to companies that mix biodiesel into petroleum diesel (think truck stops), into a producers credit, which would go to the folks who make the biofuel. He didn’t get it. The Finance Committee simply extended the expired blenders’ credit and made it retroactive.