The U.S. House of Representatives Committee on Ways and Means will hold a hearing on energy tax incentives on April 14, 2010. The hearing will examine the effectiveness of current energy tax policy and identify additional steps that the committee might take to promote the policy objectives of increased employment, economic growth and development of domestic energy sources. In particular, the discussion will focus on current and proposed energy tax incentives.
Oral testimony will be from invited witnesses only, but any individual or organization not scheduled for an appearance may submit a written statement for consideration by the committee and for inclusion in the written record of the hearing. Written comments are being accepted through April 28, 2010.
The last few years have seen a significant amount of activity by the U.S. Congress in regards to tax credits and other incentives designed to promote renewable energy sources and energy efficiency. The Energy Improvement and Extension Act of 2008 and the American Recovery and Reinvestment Act of 2009 (ARRA) each contained billions of dollars in energy tax incentives.
More recently, the House and the U.S. Senate have each passed legislation extending a number of energy tax credits through the end of 2010 that had been due to expire at the end of 2009. However, the House and Senate have yet to reconcile the two versions of the legislation. The House bill is the Tax Extenders Act of 2009, passed in December 2009, and the Senate version is the American Workers, State, and Business Relief Act of 2010.
The hearing provides an opportunity for individuals and businesses to provide input into the legislative process and express their views on energy tax policy to the House Committee on Ways and Means.