Energy industry

Congressional tax negotiators have reached a tentative deal that would mostly shield the renewable energy industry from a provision that threatened to dry up a $12 billion tax-equity market, said Senator John Thune, the chamber’s No. 3 Republican.

House and Senate negotiators have agreed to spare the electric-vehicle tax credit and wind production tax credit in their compromise package, according to a Republican familiar with process.

Energy lobbyists, who failed to get a range of expired breaks for biofuels to coal-fired power plants into the $1.5 trillion tax overhaul bill making its way through Congress, may get a second chance before the end of the year.

The tax-reform proposal moving through the U.S. Senate would hobble—and potentially cripple—the supply of tax-equity investment, an esoteric but critical source of clean-energy finance.

Tax breaks cherished by both the fossil fuel and renewable energy industries emerged unscathed in a tax plan unveiled in the U.S. Senate, according to details of the bill released Thursday evening by the chamber’s main tax writing committee.

Tax credits cherished by the wind and solar industry remain under a rewrite of the tax code revealed by House Republicans, but the measure would trim the wind energy’s production tax credit by more than a third.

The Justice Department has closed an investigation into how the driller accounts for oil and natural gas assets.

Wind-power skeptic Donald Trump’s proposed tax reform may have an unintended consequence: threatening wind farms’ balance sheets.