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The tax bill Republicans are rushing to wrap up by Christmas has no gifts for renewables—but quite a few for fossil fuels. The House version would diminish tax credits for solar and wind; the Senate version would add a BEAT (base erosion anti-abuse) tax that the industries say would devastate clean energy investment. Oil and gas producers, meanwhile, could see a significantly lower tax rate through a “pass-through” benefit that’s in the Senate bill supposedly to help small businesses, and both bills target the Arctic National Wildlife Refuge for drilling. InsideClimate News reporter Georgina Gustin has the highlights here.

The tax bill is just the first step. Coal and nuclear lobbyists are pushing Congress for more goodies: American Electric Power, several coal producers and a coal industry group are proposing a tax credit for operation and maintenance expenses, to be spread among existing coal plants at a cost of up to $6.5 billion a year, Axios reports. Exelon, a utility with a large fleet of nuclear, is asking for up to $1.2 billion a year for four years to help with capital expenditures at existing nuclear plants. Energy Secretary Rick Perry has also proposed rewarding coal and nuclear plants for stockpiling fuel; never mind that grid operators and other experts say it’s a bad idea. Reuters has the latest on that plan here. Axios, here, concludes that the lobbying efforts face long odds.

KEY QUOTE:  “Frankly, this is a novel idea to people who are used to nuclear tax credits and renewable tax credits. This is the first time anyone has thought about one for the existing coal fleet like this.”  —Paul Bailey, CEO of American Coalition for Clean Coal Electricity

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