Sen. Orrin Hatch and his fellow Republicans should feel reinvigorated after passing their sweeping tax reform bill. He played a central role in both the Senate and in the conference committee, and I applaud him for protecting the further development of clean energy during deliberations.
Most importantly, the reduction in the corporate tax rate and allowing for 100 percent expensing will help to drive investment and innovation in the clean energy sector, while the possible setbacks posed by the Base Erosion Anti-Abuse Tax in the Senate version of the bill were largely averted in the final bill. Taken together, these measures mean reliable financing should be available for future clean energy projects.
However, some important issues will remain up in the air for 2018, including the exclusion of the “orphaned” renewable energy tax credits from the final bill. Given Hatch’s record of leadership on clean energy, I am confident he will try to include those credits if another legislative opportunity emerges.