Tax Bill Offers Last-Minute Breaks for Developers, Banks and Oil Industry

[JohnAtronis + 78]

any truth in this?

https://www.nytimes.com/2017/12/02/business/tax-bill-offers-last-minute-breaks-for-developers-banks-and-oil-industry.html

[TraderTate + 186]

I haven't looked into this yet, but was wondering about the consequences for renewables. Seems the solar and wind lobbies are practically calling this the 'end days' for them, but I suspect them might be being a bit melodramatic. 

[Carlsbad + 19]

15 minutes ago, TraderTate said:

I haven't looked into this yet, but was wondering about the consequences for renewables. Seems the solar and wind lobbies are practically calling this the 'end days' for them, but I suspect them might be being a bit melodramatic. 

I think are referring to the BEAT provision and I'm sure they know yet if that provision is still a concern because no one's seen the actual text. But most seem to think it will pass. Essentially, it creates a tax on equity investments for renewable energy projects, so the industry is worried they'll see investment plummet.

[Kate Turlington + 44]

2 hours ago, JohnAtronis said:

any truth in this?

https://www.nytimes.com/2017/12/02/business/tax-bill-offers-last-minute-breaks-for-developers-banks-and-oil-industry.html

Definitely truth in this. It's about pass-through entities. The new bill reduces tax rates for pass-through entities (the favored vehicle of the wealthy), and oil and gas partnerships are eligible for this reduced tax rate. It drops the top income tax rate from 40% to about 30% in the end. 

[JohnAtronis + 78]

11 minutes ago, Kate Turlington said:

Definitely truth in this. It's about pass-through entities. The new bill reduces tax rates for pass-through entities (the favored vehicle of the wealthy), and oil and gas partnerships are eligible for this reduced tax rate. It drops the top income tax rate from 40% to about 30% in the end. 

and what about the renewables? Other countries fund renewables without the tax credit loophole.

[Rodent + 1,424]

6 hours ago, Kate Turlington said:

Definitely truth in this. It's about pass-through entities. The new bill reduces tax rates for pass-through entities (the favored vehicle of the wealthy), and oil and gas partnerships are eligible for this reduced tax rate. It drops the top income tax rate from 40% to about 30% in the end. 

That doesn't sound oil and gas specific, nor does it sound renewable-restrictive. I'm not a tax pro for sure. But how does the pass-through part benefit oil and gas, but not benefit renewables, specifically?