Senate Finance Committee leadership on Thursday offered a bill to renew a host of tax breaks that expired at the end of 2017 and 2018.
The legislation, from Finance Committee Chairman Chuck Grassley (R-Iowa) and ranking member Ron Wyden (D-Ore.), comes as taxpayers seek certainty in this year's filings about the expired provisions.
Grassley and Wyden said they did not favor Congress's habit of retroactively extending the tax breaks, known as "extenders," adding that they wanted lawmakers to act promptly on their bill given the filing season is already underway.
According to Paul Thomsen, chair of the GRC Policy Committee, the bill would provide a 30% investment tax credit (ITC) to geothermal projects that have commenced construction by December 31, 2019.
Text of the bill can be found Here. A summary of the bill can be found Here.
Text of the bill can be found Here. A summary of the bill can be found Here.