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Australia PM Gillard announces carbon pricing plan; transport fuels exempt, but lowered fuel tax credits to bring carbon price to some businesses

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The price ceiling will be set at A$20 above the expected international price and will rise by 5% in real terms each year. Transport fuels will be excluded from the carbon pricing mechanism. However, where applicable, an equivalent carbon price will be applied through changes in fuel tax credits or excise.

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Sen. Baucus draft for energy tax reform focuses on clean production of electricity and fuels; repeals plug-in vehicle credits

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Some clean energy production, such as generating electricity by capturing excess heat at manufacturing facilities, is ineligible for the production tax credit because it is not expressly listed in the code, while other types of energy production generating significant air pollution receive sizable tax subsidies.

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