Past Issues/Subscribe | Employment | neppa.org | Legislative Update | Advertise January 2016
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Congress Passes Tax and Spending Bill

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In This Issue:

  • Congress Passes Tax and Spending Bill Including Cyber Bill
  • House Passes Energy Bill
  • Transportation Bill Becomes Law with Energy Provisions
  • House Panel Holds FERC Oversight Hearing
  • D.C. Circuit Vacates FERC Decision Limiting Municipal Preference 

Congress Passes Tax and Spending Bill

Before adjourning for the holidays, Congress passed, and the President signed, a $1.8 trillion package of tax cuts and allocations to fund the federal government and programs FY16.  The spending bill does not contain policy riders threatening top Administration regulatory priorities such as the Clean Power Plan or Clean Water Rule (also known as WOTUS) or superseding the regulation for coal combustion residuals. 
 
Of interest to electric utilities, the "Cybersecurity Information Sharing Act (CISA)" (retitled the Cyber Security Act) was included in the omnibus package, including technical fixes to definitions and disclosure language advocated by the electric sector.  The final text also omits reference to a Department of Homeland Security report on mitigation strategies that industry believed would undermine the voluntary nature of the bill – the Sec. 407 Collins (R-ME) amendment that was in the Senate version of the bill.  

The bill also includes a five-year extension, modification, and phase-out of the Investment Tax Credit (ITC) for solar power and the Production Tax Credit (PTC) for wind and other renewables.  The tax bill extends the PTC as-is for two years, and the spending bill provides 80% of credit value for 2017; 60% for 2018; and 40% for 2019.  The 30% temporary ITC would be extended for three additional years (from its current Dec. 31, 2016 expiration), and would then be phased out with a 26% credit for 2020 and a 22% credit for 2021.
 
The Low Income Home Energy Assistance (LIHEAP) program is funded at $3.39 billion.  The Northeast Home Heating Oil Reserve program will receive $7.6 million.

To read the complete legislative update including the following topics, click the links below:
 


 

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Baron USA, Inc.
Braver
Nesco Sales & Rentals
Workplace Safety Soutions, Inc
National Information Solutions Cooperative