Trump Wants Consumers to Pay for Keeping Coal Alive

In June, I wrote that by trying to prop up the dying coal industry, President Donald Trump risks creating a U.S. power industry that’s “shackled to a corpse.” Well, it looks like Trump is figuring out just how to fit that shackle on.

First, Environmental Protection Agency chief Scott Pruitt wants to end federal tax credits for wind and solar power. He doesn’t have the ability to do that -- it’s up to Congress -- but since the tax credits are set to expire at the end of 2019, administration pressure could be enough to get the legislature to quietly fail to renew them. Since coal also receives government tax credits, selectively eliminating the credit for renewables would put the government’s thumb on the scale in favor of coal.