Finance Democrats push Hatch for energy hearing

Finance Democrats push Hatch for energy hearing
© Greg Nash

The Senate Finance Committee's 12 Democrats are urging committee chairman Orrin HatchOrrin HatchThe Memo: Trump tries to quiet race storm Senators push FTC to finalize changes to contact lens rule White House clarifies: We condemn all violence MORE (R-Utah) to hold a hearing this year on energy tax policy.

Members of the committee from both parties have proposed more than one dozen energy tax bills. Some energy tax changes have been approved, while others have not yet been considered, according to a letter the committee’s Democrats sent to Hatch on Wednesday.

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"The Committee should build on the work that has already been done and take action to ensure our nation's energy tax policy helps emerging industries adjust to future changes in the regulatory environment while bolstering the economy, protecting consumers, and combatting climate change," the Senators said.

The letter comes as the Senate debate a wide-ranging energy bill.

Senate Finance Committee ranking member Ron WydenRon WydenTrump's Democratic tax dilemma Senate Dems push Trump admin to protect nursing home residents' right to sue Overnight Finance: Trump-Russia probe reportedly expands to possible financial crimes | Cruel September looms for GOP | Senate clears financial nominees | Mulvaney reverses on debt ceiling MORE (D-Ore.) on Wednesday filed an amendment to the bill that would consolidate more than 40 energy tax incentives into three credits for clean power, clean transportation fuels and energy efficiency for homes and buildings. The amendment, which is cosponsored by several other committee Democrats, is the tax part of a Democratic energy package introduced in September.

The tax and spending package Congress passed in December included extensions of tax credits for wind and solar energy, but there other energy tax provisions that expire at the end of 2016 and "need a greater degree of certainty," the committee Democrats said.

 

"It is critical that the Finance Committee move to address these issues in a timely manner, along with much-needed policy changes to combat the growing dangers of global climate change," the senators wrote.