tax reform

The High Plains wind farm, near McFadden, Wyoming.
Leigh Paterson

  

The debate over tax reform has finally come to an end. Congress has passed its bill, and the President has signed it. But what’s it all mean for western energy?

Renewable Energy Threat Removed

Senator Mike Enzi (R)

Wyoming’s Senior Senator, Mike Enzi, is getting a seat at the head table in the GOP’s rush to get a tax reform bill passed in the coming weeks.

As chair of the Senate Budget Committee Enzi has played a key role in getting the Republican tax reform proposal as far along as it currently is, but now comes the really hard part: melding the Senate bill with the House bill. Enzi is on the conference committee tasked with wedding the two divergent bills. He says he’s not just hearing input from all corners of Capitol.

C-SPAN

The U.S. House of Representatives and Senate have both passed a tax bill — and that has implications for the energy industry in Wyoming.

Renewable energy organizations who signed a letter opposing certain provisions in the Congressional tax reform bills
ACORE, AWEA, CRES, SEIA

The U.S. House of Representatives and Senate have both passed a tax reform bill, and both bills have the renewable energy industry nervous. That includes four organizations 

Wyoming Education Association

Teachers often spend their own money on classroom supplies. Currently, they can be repaid up to $250 of that through a federal tax deduction. But, that’s now up for debate in Congress. The Senate GOP tax plan would double the deduction to $500, but the House plan cuts it all together.

 

Kathy Vetter, president of the Wyoming Education Association, said the deduction is an important vote of support for teachers.

 

United States Capitol in daylight
Kevin McCoy

The U.S. House and Senate disagree over whether to slash subsidies for the wind industry.

In 2015, Congress agreed to five more years of a tax credits for wind production. If a company could make headway or finish development of a new project by 2020, they would receive a tax break called a production tax credit, or PTC. It’s helped launch investment in new projects around the country, including Wyoming. The surge in development is expected to add 38 new megawatts of wind energy by 2020 in the states, according to a Bloomberg-related research group.

CSPAN

Wyoming’s lawmakers in the nation’s capital are trying to help their party deliver on its promise to overhaul the nation’s tax code.

Wyoming’s senior Senator Mike Enzi took the lead last week as he helped his party take its first steps to tax reform by passing a budget blueprint that allows the GOP to overhaul the tax code without any Democratic support. As chair of the Budget Committee Enzi led the fight to pass the budget on the Senate floor.

Conservative activist Grover Norquist says U.S. Sen. Mike Enzi will have to be accountable to the people of Wyoming if he backs off a pledge to not raise taxes.
 
Enzi said Thursday he will abide by his oath of office but won't sign or be bound by any lawmaker pledges, including the Americans for Tax Reform pledge championed by Norquist.
 
The pledge calls for opposing increases to marginal income tax rates and to oppose any net cuts to tax deductions or credits unless the moves are offset by reduced tax rates.