Climate Bill Would Boost US Utility Taxes, Exelon CEO Says

The sweeping climate and tax legislation package under consideration in Washington would boost taxes on big utilities and potentially hinder efforts to fight climate change, according to Exelon Corp.

The Inflation Reduction Act includes a corporate minimum tax that would impact Exelon’s cash tax by about $300 million a year, starting in 2023, Chief Executive Officer Chris Crane said on a conference call Wednesday.

The bill has won wide praise for its provisions aimed at battling climate change, notably a series of tax incentives intended to boost the use of clean energy. However, efforts to transform America’s power grid ...