#SubEnergy to Examine Federal Energy Tax Policy and its Effect on Markets, Prices, and Consumers
WASHINGTON, DC – The Subcommittee on Energy, chaired by Rep. Fred Upton (R-MI), today announced a hearing for Wednesday, March 29, 2017, at 10:15 a.m. in room 2322 of the Rayburn House Office Building. The hearing is entitled, “Federal Energy Related Tax Policy and its Effects on Markets, Prices, and Consumers.”
The federal government has several tools it can use to influence energy policy, one of which is to provide support for energy development, production, and use of fuels and energy technologies through the tax code or spending programs administered by the Department of Energy (DOE). In fact, the tax code has played a significant role in driving energy policy by providing targeted incentives for fossil fuels, nuclear power, renewable energy, and energy efficiency technologies. #SubEnergy will examine the history of energy-related tax policies and their effect on energy and electricity markets, prices, and most importantly on consumers.
“Our nation’s energy landscape has changed for the better, with technological innovation driving changes in how we produce, deliver, and consume energy. Tax code provisions have played a role in this transformation. With tax reform on the horizon, it is important for us to understand how these policies can leave lasting impacts on energy and electricity markets, prices, and consumers,” said Chairman Upton.
The Majority Memorandum, witness list, and witness testimony for the hearing will be available here as they are posted.