Senate’s Energy Incentives Partially Shielded From OECD Impact (1)

Alternative energy incentives in the recent compromise between Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Joe Manchin (D-W.Va.) favor certain technologies, like carbon capture and hydrogen, by making them less likely to be disrupted by the global minimum tax agreement between over 130 countries.

The value of some of the other credits in the tax bill such as for wind and solar energy, however, could be negated by the global agreement’s pending 15% minimum tax, tax and energy experts said. Under the current framework, a global minimum tax has less impact on direct pay subsidies—like refundable tax credits—than non-refundable ...