The tax overhaul proposed in the U.S. House is a better bet for oil and gas companies than solar developers or electric car buyers, keeping with President Donald Trump’s decidedly fossil-fuel friendly views.
The proposal, unveiled Nov. 2, slashes tax rates almost in half for most corporations, and expands the ability of businesses—from shale drillers to solar panel makers—to write off equipment. It keeps most of the oil industry’s most cherished tax breaks intact, as well as investment and production tax credits for renewable energy.
But there are exceptions: A $7,500 credit for electric vehicle purchases is gone, as ...
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