GREEN ENERGY COMPANIES WANT BIDEN
November 16, 2020 - Douglas Myser
Green energy companies want biden. Finance chiefs in the clean energy sector will face different realities depending on who wins the U.S. presidential election, but are eyeing the possibility of an economic boost under a Democratic victory. Renewable energy is one of several policy areas where the two candidates hold starkly contrasting views. Former Vice President Joe Biden has proposed spending $2 trillion to combat climate change and eliminating carbon emissions from the power grid by 2035. Trump meanwhile has challenged the science behind global warming and has eased or rescinded regulations on coal, oil and natural gas production. Green energy companies want biden.
Chief financial officer's manage their balance sheets through the red and blue political waves in the nation's capital. Regardless of the election outcome next week, clean energy CFO's say broader economic trends--including a rise in corporate sustainability pledges and socially conscious investing, and a decline in renewable energy production costs--have all been good for business. Still, a Democratic win could be a boon, these executives said. On the industry's wish list: prompt renewal of alternative energy investment tax credits, removal of tariffs on solar technologies and, more broadly, the establishment of a national clean energy plan, among other proposals. Share prices in renewable energy companies have increased in recent months in anticipation of a Democratic victory. The Wilderhill Clean Energy Index, which tracks renewable energy stocks, has climbed steadily since the spring, rising over the past month amid a broader market selloff. Green energy companies want biden.
The tax credit market, however, has faced challenges in recent months. Banks have less of a need for the credits because their taxable income has taken a hit during the pandemic, executives said. Additionally, the credits, which Congress last renewed in 2015 for solar energy and in 2018 for other renewable technology, began a multiyear step down period that lowers the amount companies can claim to 26% of eligible expenses instead of the original 30% rate.
If tax credits didn't prevent you from owing IRS taxes or you have unfiled IRS or State Revenue tax returns, call Federal Tax Resolution for help. Our Tax Resolution Company is actually recommended by other Tax Resolution Companies. We are now the Fourth Oldest Tax Resolution firm in America. Our Tax help will get all your past returns filed, then look at Tax Relief options in the IRS and State tax codes for a best result. We look at all options, and if you are a business owner with 940 or 941 tax issues, call us for fast action on Payroll Taxes. We will look at the IRS Fresh Start Program and all options not in that program. We work hard to prevent an IRS Wage Garnishment or Bank Levy from happening to our clients. Nationwide and International Ex-Pats and Military welcome, we can represent taxpayers anywhere in the World. Call for a confidential Tax Resolution Services interview today. 1-888-689-7861