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USA pro nuclear politicians fail to get nuclear tax credit in government spending bill

S.C. congressional delegation loses fight to get nuclear tax credit in government spending bill, The Post and Courier, By Emma Dumain edumain@postandcourier.com May 3, 2017 
WASHINGTON — The budget agreement worked out in Congress has disappointed every member of the South Carolina delegation after a highly desired nuclear power plant tax credit was left out.

Excluded from the plan that’s supposed to keep the government running through September is a provision extending the deadline for nuclear power plants to take advantage of the tax bonus, threatening to undermine a major economic driver in the state.

At issue is a credit Congress created in 2005 to incentivize nuclear power production. But it gave plants a 2020 deadline to complete their work in order to qualify.

Westinghouse Electricity’s recent bankruptcy filing, however, has had a profound effect on the V.C. Summer nuclear power plant’s ability to stay on schedule, putting the site’s future in question.

Jimmy Addison, SCANA’s executive vice president and chief financial officer, said last week the production team needed assurances soon as to whether it would receive a deadline extension. Otherwise, SCANA would have to decide whether it could afford to continue construction at the site near Jenkinsville…….

while rewriting tax law is a priority for President Donald Trump and congressional Republicans, there’s no guarantee lawmakers will be able to advance such a bill, nor is there any clear timeline for consideration…….http:// http://www.postandcourier.com/news/s- c-congressional-delegation- loses-fight-to-get-nuclear- tax/article_c68a5cde-2f42- 11e7-ba6f-977391a7c898.html

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May 3, 2017 - Posted by | politics, USA

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