Tax Credits, Deductions and Exemptions
Korean Solar Company Plans to Build $2.5 Billion Plant in Georgia
Under the legislation, businesses receive a tax credit at every stage of the supply chain. The act includes an estimated $30 billion in production tax credits to accelerate manufacturing of solar panels, wind turbines, batteries and for the processing of critical minerals. The law also offers an investment tax credit to companies that build factories […]
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Energy Experts Say Climate Bill Could Help Consumers Cut Utility Bill Costs
The Inflation Reduction Act that was passed by the Senate on Sunday could lower electricity bills for consumers and the prices of things like rooftop solar panels, energy-efficient appliances and electric vehicles, Democrats and some energy experts said. Under the legislation, a home improvement credit for energy efficiency would allow households to deduct from their […]
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The Carried Interest Loophole Survives Another Political Battle
WASHINGTON — Once again, carried interest carried the day. The last-minute removal by Senate Democrats of a provision in the climate and tax legislation that would narrow what is often referred to as the “carried interest loophole” represents the latest win for the private equity and hedge fund industries. For years, those businesses have successfully […]
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Analysis Deems Biden’s Climate and Tax Bill Fiscally Responsible
After more than a year of trying — and failing — to pack much of President Biden’s domestic agenda into a single tax-and-spend bill, Democrats appear to have finally found a winning combination. They’ve scrapped most of the president’s plans, dialed down the cost and focused on climate change, health care and a lower budget […]
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Climate Bill ‘Transformative’ for Auto and Energy Industries
Making electric cars more affordable. For the auto industry, one of the most important provisions in the climate bill would eliminate a cap on how many cars from each manufacturer are eligible for a $7,500 tax credit that taxpayers get for buying electric vehicles. Currently, the credits are phased out after a manufacturer has sold […]
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The Federal Government Subsidizes Abortions. Will That Last?
In the United States, you can get a tax deduction for your abortion if your overall health care expenses are high enough. That didn’t change with the Supreme Court’s ruling last week. If you work for a nongovernmental employer that provides health insurance that covers abortion, the federal government helps there, too. That hasn’t changed. […]
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With Funding Stalled, Chip Makers Warn Congress the U.S. Is Lagging
WASHINGTON — Top chip makers are pressuring Congress to quickly pass a measure providing more than $52 billion for companies that build semiconductor factories in the United States, privately warning lawmakers that failure to do so could prompt them to take their manufacturing plants elsewhere. The bill, known as the CHIPS Act, would deliver semiconductor […]
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Interested in Solar Panels? Here Is Some Advice.
Thanks to technological and manufacturing advances, costs for solar panels have tumbled in the last decade, making solar energy more popular for homeowners. But figuring out how to add a solar energy system to your roof can be daunting. Workers installed a solar and battery system this winter at my home in a New York […]
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As Broadway Struggles, Governor Hochul Proposes Expanded Tax Credit
As Broadway continues to reel from the economic effects of the coronavirus pandemic, Gov. Kathy Hochul is proposing to expand and extend a pandemic tax credit intended to help the commercial theater industry rebound. Ms. Hochul on Tuesday proposed budgeting $200 million for the New York City Musical and Theatrical Production Tax Credit, which provides […]
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