Prior to the House action on the tax extenders bill (H.R. 6049), the Administration released its Statement of Administration Policy (SAP) on the legislation. The SAP says the President's senior advisors would recommend a veto of the bill in its current form due to a variety of objections, most particularly the "offsets" included to pay for it.
With regard to the energy tax incentives included in H.R. 6049, it states that the Administration is concerned about "expensive and highly inefficient tax credit bonds for renewable energy production and conservation efforts." This is in reference to the Clean Renewable Energy Bonds (CREBs) for public power and the energy conservation bonds for state and local governments. The SAP goes on to state that the Administration "strongly opposes the provision of H.R. 6049 that would apply Davis-Bacon Act prevailing wage requirements to projects financed with the proceeds of the New Clean Renewable Energy Bonds as authorized by the bill." If the Davis-Bacon provisions remain in the bill, the President's senior advisors will recommend it be vetoed.
The Administration says it supports the extension of the renewable energy production tax credit (PTC) but "believes it can be improved." The SAP goes on to reference an April proposal from the President that would consolidate the PTC and other clean energy incentives into a single, expanded program with specific features, including that the incentives be "carbon weighted; technology-neutral; long lasting; and should take into account our Nation's energy security needs."