Last week as newly installed Ambassador Baucus headed for China, Senator Mary Landrieu took the helm of Senate Energy and Natural Resources and Senator Ron Wyden moved over to Chair Senate Finance, shifting his focus from energy policy to energy taxes. The most pressing issue at hand for clean energy and innovation is the extension of tax credits. Over 50 tax provisions expired in 2013, including the Wind Production Tax Credit, the R&D Tax Credit, Bonus Depreciation, and the 179D Credit for Commercial Energy Efficiency. Senator Wyden has said he wants to address the extenders right away; common wisdom says this would most likely be in the form of a one year retroactive across the board extension. Chairman of the House Committee on Ways and Means David Camp continues to promise draft tax reform legislation, now rumored for release in early March. It is unclear how and when the House will transition over to considering tax extenders, or whether they will simply take up a Senate passed bill. The push at this point is to get as much done in the Senate as possible while shoring up House Republicans who care about clean energy.
