The US Department of the Treasury’s Proposed Guidance for the Tech-Neutral Tax Credits

Aaron Bergman and Kevin Rennert
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Kevin Rennert: Resources for the Future

No 24-06, RFF Issue Briefs from Resources for the Future

Abstract: On Wednesday, May 29, the Department of Treasury and the Internal Revenue Service released proposed guidance for the section 45Y production tax credit (PTC) and the section 48E investment tax credit (ITC). These tax credits serve as a technology-neutral replacement for the existing tax credits for clean electricity. As we detailed in our prior issue brief, these new tax credits provide a welcome consistency and certainty to the tax code but also present a few novel questions to be resolved. Treasury has given the public 60 days to comment on the proposed guidance, ending on August 2. In this issue brief, we discuss what is new in the guidance, how Treasury has resolved some of the issues we previously identified and what major questions remain to be addressed through the public comment process.

Date: 2024-07-10
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