Bracewell’s Tim Urban told The Wall Street Journal that clean-energy companies were in a frenzy to start projects by December 31 as a hedge against the potential of subsidies being repealed by a Republican-led administration and House.
Companies ordered equipment such as transformers or began roadwork at sites. Those actions can prove that construction had started, which would safeguard access to existing investment-tax credits even if projects are completed later under a less-generous tax regime, said Urban.
Republican leaders have stated that extending the expiring tax cuts passed in 2017 during Donald Trump’s first term will be a must. Repealing clean-energy subsidies in part or whole has been repeatedly mentioned as a potential source of funding to offset the cutting of trillions of dollars from the budget.
