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Energy Sector Gears up for Tax, Regulatory Reform from Congress in 2017
Energy Sector Gears up for Tax, Regulatory Reform from Congress in 2017
Jan 6, 2017
by Margarita Fournier; Copyright 2016 by Competitive Assets, LLC. All rights reserved
On 1/4/17, S&P Global reported that “Republicans plan to pursue broad tax reform and streamline or cut regulations for the energy sector, goals that will be aided by having a Republican president in the White House.” President-elect Trump “has promised to rescind the U.S. EPA’s Clean Power Plan and a wave of other Obama-era rules. For its part, Congress can revoke more recent regulations using the Congressional Review Act, including the U.S. Department of Interior’s Stream Protection Rule for coal producers finalized Dec. 19.” In addition, “[s]olar and wind tax credits extended in late 2015 could also be vulnerable, given Trump’s more outspoken support for fossil fuels. Renewable energy developers say the tax credits should be safe, but some of Trump’s campaign advisers want to eliminate the incentives to create a more level playing field for all electric power sources.”
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