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Climate Politics

Climate Bill Would Raise Taxes on Big Utilities, Exelon CEO Says

  • Exelon sees tax rising $300 million on proposed inflation bill
  • Says new taxes would hinder ability to invest in clean energy
Chris Crane

Chris Crane

Photographer: T.J. Kirkpatrick/Bloomberg

The sweeping climate and tax legislation package under consideration in Washington would boost taxes on big utilities and potentially hinder efforts to fight climate change, according to Exelon Corp. 

The Inflation Reduction Act includes a corporate minimum tax that would impact Exelon’s cash tax by about $300 million a year, starting in 2023, Chief Executive Officer Chris Crane said on a conference call Wednesday.