Senate Finance Committee Releases First Tax Extender Task Force Reports

Wednesday, August 14, 2019 - 8:45am

The heads of the Senate Finance Committee Tuesday released the first three of six reports by temporary tax provision task forces, examining provisions that expired or will expire between Dec. 31, 2017, and Dec. 31, 2019. The three reports include energy; individual excise and other policies; and business cost recovery. The energy report included feedback from stakeholders encouraging long-term certainty for the production tax credit (PTC) and investment tax credit (ITC), as well as support for an extension of the Section 45L credit for energy-efficient homes, the eligibility of energy story technology for the ITC and for offshore wind to be treated differently under the PTC. That task force made no recommendations in its report. The individual excise and other policies report included stakeholder feedback on the Section 179(d) energy-efficient commercial buildings deduction, with the committee recommending a permanent extension. The remaining three reports, including the workforce and community development tax force will be released as they are completed over the next few days, according to the Senate Finance Committee press release.