Closed-door discussions between House and Senate Leaders and key Members and staff continue on the "energy independence" bill, with the most recent "inside" intelligence indicating that leadership may split the bill into two separate efforts. The first bill would include an increase in the automobile fuel economy standards, a renewable fuels mandate, various energy efficiency appliance standards and key provisions to advance research and development of carbon capture and storage technologies (CCS). A second bill would include a 15% federal renewable portfolio standard (RPS) and a $15-20 billion energy tax title. The rationale, although nothing has been announced officially, is that the Senate does not have enough votes to advance a package that includes an RPS and a tax title, since the Senate version of the "energy independence" bill did not include either.
From NEPPA's perspective, this strategy would be unfortunate, because the tax title includes an extension of, and important modifications to, the Clean Renewable Energy Bond (CREB) program, as well as key tax deductions for energy efficiency commercial buildings and incentives for energy efficient new homes. New England Rep. Richard Neal (D-MA) has been helpful in advancing the CREB provisions as has Rep. Ed Markey (D-MA), on the energy efficiency provisions. Sen. Olympia Snowe in the Senate is the lead champion on the energy efficiency tax incentives, and Sen. John Kerry (D-MA) has also weighed in with key Senate Finance Committee staff on the CREB extension and modifications.