Democrat Releases Energy Plan As Alternative To Biden Outline

April 21, 2021, 3:01 PM

Senate Finance Chairman Ron Wyden proposed ending existing tax breaks for fossil fuels and creating new incentives for low-and-no carbon energy sources that he said would prune the existing “hodgepodge” of energy tax benefits.

Wyden’s plan, which he introduced Wednesday, would offer an alternative approach to President Joe Biden’s clean energy proposals by creating a new emissions-based tax credit for the production of clean electricity. All energy sources -- including renewables and fossil fuels -- qualify but they have to have zero or net negative carbon emissions. The plan would also create a production tax credit of up ...

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