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U.S. Senate Finance Committee Releases Report on Options with Energy Tax Incentives - Recommends Per

Wednesday, May 15, 2013   (0 Comments)
Posted by: Julie Herman
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 One of the options considered in the report was to replace existing energy tax expenditures with technology neutral tax expenditures.  It recommended, "Establish a new, performance-based tax credit for residential energy efficient retrofits of, for example, $2,000 if the retrofit makes the home 20% more efficient, regardless of what technology is used (Cut Energy Bills at Home Act, sponsored by Sens. Bingaman, Snowe and Feinstein)."
 The report also presented the option of making permanent the individual tax credit for energy efficient home retrofits (Home Energy Savings Act of 2012) and to permanently extend the deduction for energy efficient commercial buildings. The report is posted at Senate Finance Committee Report on Tax Reform. The section on energy tax incentives begins on page 9 of the report. 

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