TCS Databases

A Taxpayers for Common Sense Project

Agency: Department of the Treasury

  • Biodiesel tax credit

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    Agency: Department of the Treasury   Description: Tax credit of $1/gallon for biomass-based diesel (biodiesel and renewable diesel) fuel, plus tax credit for alternative fuels Bill Section: 13201 US Code: 26 USC 40A New or Existing: Existing Potential Cost:      $5,600,000,000 Timeline:      Calendar years 2023-2024, with costs incurred in FY23-25   TCS Notes: Most…

  • CCS/45Q tax credit

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    Agency: Department of the Treasury   Description: Tax credit for carbon oxide captured and sequestered. Bill Section: 13104 US Code: 26 USC 45Q New or Existing: Existing Potential Cost:      $3,200,000,000 Timeline:      Through 2032   TCS Notes: The Joint Committee on Taxation (JCT) estimated that the IRA’s expansion of the 45Q tax credit would…

  • Cellulosic tax credit

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    Agency: Department of the Treasury   Description: $1.01/gallon tax credit for production of cellulosic based biofuel. Bill Section: 13202 US Code: 26 USC 40 New or Existing: Existing Potential Cost:      $540,000,000 Timeline:      Calendar years 2022-2024 (2022 is retroactive). Cost projection is for FY23-25.   TCS Notes: The cellulosic biofuel industry was intended to…

  • Credit for Qualified Commercial Clean Vehicles

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    Agency: Department of the Treasury   Description: Tax credit for certain electric and hydrogen powered fuel cell commercial vehicles Bill Section: 13403 US Code: 26 USC 45W New or Existing: New Potential Cost:      $3,583,000,000 Timeline:      2023 – 2032 Implementation Status/Rulemaking:    On November 3, 2022, the Internal Revenue Service issued Notice 2022-56 which…

  • Clean Fuel Production Credit

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    Agency: Department of the Treasury   Description: Tax credit of $0.20-$1.00/gallon for production of fuels with carbon intensity reductions (less than 50 kilograms of CO2e per mmBTU); sustainable aviation fuel could receive credit of up to $1.75/gallon, with a minimum of $0.35/gallon. Bill Section: 13704 US Code: 26 USC 45Z New or Existing: New Potential…

  • Renewable electricity production tax credit (PTC)

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    Agency: Department of the Treasury   Description: For closed- and open-loop biomass (latter includes livestock waste) facilities, landfill gas or trash facilities, qualified hydropower, marine and hydrokinetic, wind, and geothermal or solar energy. Also known as the Production Tax Credit (PTC) and Investment Tax Credit (ITC). Bill Section: 13101 US Code: 26 USC 45(d) and…

  • Clean Electricity Production Credit

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    Agency: Department of the Treasury   Description: Phased tax credit for zero-emission electricity production Bill Section: 13701 US Code: 26 USC 45Y New or Existing: New Potential Cost:      $11,200,000,000 Timeline:      2025 through phase out beginning in 2032 or the calendar year in which annual GHG emissions from US electricity production are less than…

  • Renewable electricity investment tax credit (ITC)

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    Agency: Department of the Treasury   Description: Tax credit for solar, geothermal, fuel cell, microturbine, combined heat and power, wind, and waste energy recovery property; plus new provisions for energy storage technology, biogas, and microgrid controllers. Bill Section: 13102 US Code: 26 USC 48 New or Existing: Existing Potential Cost:      $14,000,000,000 Timeline:      Beginning…

  • Clean Electricity Investment Credit

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    Agency: Department of the Treasury   Description: Phased tax credit for electricity investments “for which the anticipated GHG emissions rate is not greater than zero.” Bill Section: 13702 US Code: 26 USC 48E New or Existing: New Potential Cost:      $50,900,000,000 Timeline:      2025 through phase out beginning in 2032 or the calendar year in…

  • Increase in Energy Credit of Solar and Wind Facilities Placed in Service in Connection With Low-Income Communities

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    Agency: Department of the Treasury   Description: Investment tax credit for small-scale solar and wind facilities in low-income communities. Bill Section: 13103 US Code: 26 USC 48(e) New or Existing: New Potential Cost:      N.A. Timeline:      2023 to until 48E(h) becomes available Implementation Status/Rulemaking:    On Feb. 13, 2023, the Internal Revenue Service issued…