Agreement Reached on Renewable Energy Tax Credits

It appears that an agreement has been reached in the Senate on an extenders package that includes the tax credits for renewable energy.

From the Senate Finance Committee's statement:

BAUCUS, GRASSLEY, SENATE LEADERS AGREE TO MOVE CLEAN ENERGY INCENTIVES, EXTEND EXPIRING TAX CUTS, OFFER DISASTER TAX RELIEF,
PROTECT MILLIONS FROM ALTERNATIVE MINIMUM TAX

Deal combines Finance leaders’ key energy priorities with top tax issues for 110th Congress

Washington, DC – Senate Finance Committee Chairman Max Baucus (D-Mont.) and Ranking Member Chuck Grassley (R-Iowa) today announced an agreement with the Senate’s Democratic and Republican leadership to move legislation accomplishing the Finance panel’s remaining major objectives for the year: passage of clean energy tax incentives, the protection of millions of Americans from the alternative minimum tax (AMT), and extensions of expiring family and business tax cuts.  Last week, Baucus and Grassley unveiled a $40 billion package of clean energy tax incentives for Senate consideration this month.  Today, the Finance leaders combined key objectives of that legislation with an agreement to update alternative minimum tax rules and continue tax cuts for college tuition, state and local sales taxes, and research and development for U.S. businesses.  Senators should vote this week on amendments to replace the current text of H.R. 6049, energy tax legislation approved in the House of Representatives earlier this year.

More on the agreement here.