Slimmed Down Energy Tax and Social Spending Package Targeted for Vote Before August
A slimmed down version of the Build Back Better bill is reportedly in discussions between the Biden Administration and Senator Joe Manchin (D-W.Va). The Build Back Better bill has been stalled in Congress due to opposition by Senator Manchin. The new discussions come as welcomed news as the wind production tax credit is set to expire this year, and the solar investment tax credit continues to phase down. Current law also does not include tax incentives for stand-alone energy storage projects. Experts generally agree that prices for renewable energy development will increase absent legislative action.
According to the Washington Post, Senator Manchin has said that he would seek to bring the package to a vote prior to the August recess. Following the recess it becomes more difficult to move major legislation in advance of midterm elections
The bill is said to include an extension of the solar investment tax credits and wind production tax credits along with other clean energy provisions contained in the