Clean Energy Tax Credits Largely Go to High-Income Tax Filers, New Report Shows
July 15, 2024
Washington Examiner
Severin Borenstein, Energy Institute Faculty Director, and Lucas Davis, Energy Institute Faculty Affiliate, discuss clean energy tax credits and major pitfalls derived from the policy in the Washington Examiner.
“Clean energy tax credits have largely benefited higher-income tax filers, according to a new report by [Severin Borenstein and Lucas Davis], illustrating a major pitfall for the Biden administration in its efforts to lower emissions through subsidies…The top quintile of households by income received 60% of $47 billion in clean energy tax credits claimed from 2006 to 2021, according to the paper, which was done by researchers at the University of California, Berkeley, and circulated Monday by the National Bureau of Economic Research.”
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