This week, House Ways and Means Committee Chairman Charles Rangel (D-NY) called on Subcommittee Chairman Richard Neal to hold hearings on "energy incentive proposals from Members and the public." The hearings will be part of the Committee's development of energy legislation, which Speaker of the House Nancy Pelosi (D-CA) has requested be drafted by summer. As mentioned above, Rangel may hold the first two hearings on energy, one of them possibly as early as next week. A third hearing, most likely in March, would be held in the Select Revenue Measures Subcommittee, with Members of Congress testifying on their energy incentives.
The hearings are intended, at least in part, to develop options for spending the so-called "trust fund" amounts raised by the repeal of the oil-and-gas incentives in H.R. 6.