Kyle Sweeney

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On October 5, 2022, the Treasury Department and the IRS issued notices requesting comments on different aspects of the energy tax benefits in the Inflation Reduction Act (“IRA”). All comments are due by Friday, November 4, either electronically on www.regulations.gov or alternatively by mail to the IRS. Written comments submitted after that date will be considered as long as such consideration will not delay the issuance of guidance.…

Continue Reading IRS issues notices requesting comments on IRA clean energy tax credits

The Inflation Reduction Act of 2022 (the “IRA”) features $260 billion in clean-energy tax credits. While the IRA extends many existing clean-energy tax credits, like the energy production tax credit and investment tax credit for wind and solar, it also establishes new credits, including credits for advanced manufacturing and hydrogen production. Additionally, beginning in 2025, taxpayers with zero emissions facilities would have added flexibility to choose between using a new technology neutral production tax credit or investment tax credit.…

Continue Reading Expansion and Long-Term Stability of Climate and Energy Tax Credits

Late on July 27, Sen. Joe Manchin and Senate Majority Leader Charles Schumer announced an agreement on the Inflation Reduction Act (IRA): a reconciliation package that implements prescription drug pricing reform, invests in Affordable Care Act health care subsidies, imposes a corporate minimum tax and improves tax enforcement, and—most relevant for this post—provides $369 billion to support energy production and reduce greenhouse gas emissions.…

Continue Reading Overview of the Inflation Reduction Act

This blog is the twelfth in our series, “The ABCs of the AJP.”

Power lines, strung between high-voltage transmission towers, are etched across the American landscape. Yet the United States’ current transmission infrastructure is outdated and inefficient, plagued by bottlenecks and weak interconnections across regions, which limit the grid’s ability to integrate renewable generation and its overall resilience. Improving and expanding the Nation’s transmission infrastructure is therefore central to the American Jobs Plan’s (AJP) grid modernization, decarbonization and job-creation goals.
Continue Reading Lines, Labor and Leveraging Capital: How the AJP Would Upgrade Transmission Infrastructure

This blog is the sixth in a series, “The ABCs of the AJP.”

One of the key underpinnings of the case for climate legislation is the idea that natural and working lands will suffer without swift and meaningful action. President Biden’s American Jobs Plan (AJP) proposes to “protect and, where necessary, restore nature-based infrastructure – our lands, forests, wetlands, watersheds, and coastal and ocean resources.” But what should that look like? And how will the new administration find common ground with lawmakers who fear that forest conservation can only come at the expense of rural communities and the industries that rely on these resources?
Continue Reading Finding the Common Ground for Forests