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ARTICLE · 21 JANUARY 2021

Potential Energy Tax Changes Under A Biden Administration

Mayer Brown
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As the incoming Biden Administration takes shape, energy companies will be monitoring potential tax policy initiatives, especially those that could impact the energy sector.

United StatesEnergy and Natural Resources
Greg M. Matlock
Greg M. Matlock
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As the incoming Biden Administration takes shape, energy companies will be monitoring potential tax policy initiatives, especially those that could impact the energy sector. Companies throughout the sector could be treated disparately, depending on how closely the underlying businesses and future aspirations tie to the new administration's focus areas.

Although the incoming administration has put forth bits and pieces of a variety of potential tax reforms and incentives, two focus areas have clearly emerged—a reduction or rollback of certain provisions of the 2017 Tax Cuts and Jobs Act (the "TCJA") and a focus on clean energy and reducing carbon emissions (while promoting US-based manufacturing). Policy initiatives, as aspirational concepts, and the ability to effect tax reform are distinct topics; however, taxpayers ought to have an understanding of what is potentially at stake.

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