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WASHINGTON (Reuters) -Three Democratic U.S. senators introduced a measure on Wednesday to boost existing nuclear plants to a wide energy tax reform bill, after the Biden administration pushed for such a change to help curb carbon emissions.
The Indian Point Energy Center nuclear power plant, which New York Governor Andrew Cuomo announced will shutdown as planned, is pictured along the eastern shore of the Hudson River in Buchanan, New York, U.S., April 30, 2021. REUTERS/Mike Segar
Senator Ben Cardin introduced the amendment on the tax production credit with fellow Democrats, Senators Sheldon Whitehouse and Bob Casey.
“We’re in danger of seeing the premature closing of the nuclear reactors in this country,” Cardin said before introducing the amendment at a hearing considering the wider bill, the Clean Energy for America Act. Cardin did not ask for a vote on the measure, a move to allow time to refine it as legislation advances.
The US Senate will consider new EV tax credits that could cut as much as $12,500 off the cost of a new electric vehicle, though the controversial incentive
Published May 27, 2021 Emma Penrod
Dive Brief:
Members of the Senate Finance Committee vied on Wednesday to add and preserve resource-specific tax credits to the Clean Energy for America Act, a bill intended to replace some 40 individual tax incentives with broader and more uniform tax credits tied to carbon emissions reductions.
Committee Chairman Ron Wyden, D-Ore., announced that he planned to place the Clean Energy for America Act directly onto the Senate calendar without further committee hearings after a vote on the amended bill ended in a tie split along party lines.
Democratic members of the committee generally supported the bill, arguing that it would allow renewable energy and fossil fuels to compete in a free-market system, and would reduce carbon emissions. Republicans rejected the final version, saying what started as an effort to level the playing field between energy resources ultimately ended up as a bill that would promote rene
Photo: Hyundai
Hyundai is making its electric move, Congress is trying to fix the EV subsidy, and Mazda. All that and more in The Morning Shift for May 27, 2021.
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1st Gear: Hyundai Electrifying
There is no timeline here, so I’m not sure how much of this is actual news given that we’ve already heard plenty about Hyundai’s electric plan, otherwise known as Ioniq. Still, it feels dramatic every time a report like this comes out about an automaker, as Reuters says that half of Hyundai’s models “powered by fossil fuels” will at some point be gone, just like that.
WASHINGTON The Senate Finance Committee advanced the Clean Energy for America Act Wednesday. The bill introduced by Sen. Ron Wyden of Oregon and more than 20 colleagues would replace a patchwork of more than 40 energy tax policies with three categories of tax incentives for clean electricity, clean transportation and energy efficiency. The bill also eliminates subsidies for fossil fuels and nuclear generation.