Energy Tax Breaks to Shrink in Baucus Focus on Emissions

U.S. energy tax incentives would be cut by more than half under a draft plan released by Senate Finance Committee Chairman Max Baucus.

Baucus’ proposal would consolidate more than 40 breaks into two incentives for cleaner production of electricity and fuel. Today’s proposal would end tax breaks for energy efficiency, electric cars and appliances that benefit companies including Whirlpool Corp. and Nissan Motor Co.