Rep. Levin unveils draft of energy plan

Provisions in the draft include: 

• An expanded Section 48 C tax break that provides a 30 percent investment tax credit to re-equip, expand or establish domestic manufacturing facilities.

• Incentives to spur domestic demand for renewable energy equipment and energy efficient equipment. 

• Tax incentives for large natural-gas and electric/hybrid vehicles to help the country move away from fossil fuels. Included here are tax incentives for domestically produced biofuels, such as biodiesel and ethanol credits, at a reduced rate.

A summary of the provisions can be found at: 

http://waysandmeans.house.gov/media/pdf/111/Discussion_Draft_Summary.pdf