FEDERALhearing transcript

High Impact

Senate Hearing on Tax Policy and Climate Change

Original title: CLIMATE CHALLENGES: THE TAX CODE'S ROLE IN CREATING AMERICAN JOBS, ACHIEVING ENERGY INDEPENDENCE, AND PROVIDING CONSUMERS WITH AFFORDABLE, CLEAN ENERGY

January 1, 2022

climate change tax policy energy jobs transportation emissions

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The Frame

What this does

The committee is evaluating whether to overhaul the existing , which currently consists of over 40 different provisions, to align with new national climate and emissions targets.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Energy Industry

The industry is subject to potential changes in tax incentives and credits related to energy production and emissions.

U.S. Taxpayers

Taxpayers may be affected by changes to the tax code that influence energy costs and national economic policy.

What changed

Last recorded activity January 1, 2022.

What's next

Next step not available in the current record.

Summary

The Senate Finance Committee held a hearing to discuss how the U.S. tax code can be used to address climate change, create jobs, and promote energy independence. This was the committee's first hearing on the climate crisis in 12 years, following President Biden's goal to cut emissions by 50% by 2030.

Key Facts

The hearing took place on April 27, 2021, in the Dirksen Senate Office Building.
This was the first Senate Finance Committee hearing on the climate crisis in 12 years.
The committee is reviewing the current U.S. energy tax code, which contains over 40 distinct provisions.
President Biden set a national goal to cut emissions by at least 50% by 2030 compared to 2005 levels.
The hearing focused on the intersection of tax policy, job creation, energy independence, and clean energy affordability.
Witnesses included representatives from the BlueGreen Alliance, Portland General Electric, the American Enterprise Institute, and the Pennsylvania Chamber of Business and Industry.

Frequently Asked Questions

What is the purpose of this hearing?

To examine how the U.S. tax code can be modified to help meet climate goals, create jobs, and ensure affordable energy.

How many energy tax provisions are currently in the U.S. tax code?

According to the Chairman, there are more than 40 different energy-related tax provisions.

Why It Matters

The committee is evaluating whether to overhaul the existing , which currently consists of over 40 different provisions, to align with new national climate and emissions targets.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift100% confidence

Return to Climate Focus

The hearing marked the first time in 12 years that the Senate Finance Committee held a hearing specifically on the climate crisis.

Senate Finance Committee

Connected Entities

personJoe Biden“President of the United States”Map →

personRon Wyden“Chairman of the Senate Finance Committee”Map →

personJason Walsh“Executive Director of BlueGreen Alliance”Map →

personKevin Sunday“Director at Pennsylvania Chamber of Business and Industry”Map →

personMaria M. Pope“CEO of Portland General Electric”Map →

personMike Crapo“Ranking member of the Senate Finance Committee”Map →

personAlex Brill“Fellow at American Enterprise Institute”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance80
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz20
Current news / social attention level

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