Ten Democrat members of the House of Representatives introduced a bill that would allow taxpayers to receive a cash payment instead of a tax credit for renewable energy investment tax credits and production tax credits. The Renewable Energy Investment Act of 2019 (H.R. 5157) would allow Indian tribal governments to receive 100 percent of the credit in cash and would allow other taxpayers to receive 85 percent of the credit in cash.
The Internal Revenue Service will publish final regulations to implement the base erosion and anti-abuse tax (BEAT) in Friday’s Federal Register. Treasury Decision 9885 finalizes proposed regulations published Dec. 21, 2018, and is effective Friday.
Twenty-six members of the House of Representatives sent a letter this week to House Majority Leader Nancy Pelosi, asking for an extension of the renewable energy investment tax credit (ITC) in any year-end legislation. The letter specifically cites the ITC for solar, fuel cells, small wind, geothermal and other clean energy technologies.
Democratic presidential candidate Joe Biden today released a plan to invest $1.3 trillion in infrastructure over 10 years, including permanence for the new markets tax credit (NMTC) incentive and a restoration of the renewable energy investment tax credit (ITC). Biden, a former U.S.
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