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Tax Fairness for Renewable Energy

Congress has a great opportunity to amend the tax code in a way which will benefit the environment, promote American jobs, and foster diversity in our energy sources. It can achieve these results by enacting the Master Limited Partnerships Parity Act.

Since the early 1980’s, oil and gas producers have been permitted to use Master Limited Partnerships (MLPs), a favorable tax structure taxing corporations as partnerships to raise over $400 billion in new capital.  Renewable energy sources, such as wind and solar, have not been able to utilize MLPs.

This legal disparity makes no sense.  It flies in the face of our need to maintain strong renewable energy sources, even as we now have new supplies of oil and natural gas.

The MLP Parity Act of the Senator Coons and Representative Poe, has been endorsed by public policy groups from the Center for American Progress to the Heritage Foundation and by a large number of business groups, from AWEA and SEIA to API.  This statute could unlock significant private sector investment funding.  Members of Congress should be encouraged to enact this valuable legislation.

© 2023 Covington & Burling LLPNational Law Review, Volume IV, Number 143

About this Author

Muftiah M. McCartin, Regulatory & Public Policy Attorney, Covington Law Firm
Of Counsel

Muftiah McCartin is co-chair of the Public Policy Practice Group. She specializes in providing advice and guidance to clients on legislative and regulatory strategies.

Ms. McCartin has been praised by congressional leaders for “her policy and technical expertise [that] have served both sides of the aisle over many years," for "personif[ying] competence, professionalism and courtesy," and for being “one of the most able people with whom I have worked during the 30 years I have been here." Her distinguished public service career in the U.S. House of Representatives...

Allan Topol, Covington, Environmental attorney
Senior Counsel

Allan Topol is a resident in the firm’s Washington office.  While practicing law with Covington, he has written ten novels of international intrigue and numerous articles dealing with foreign policy issues in The Huffington PostThe New York TimesThe Washington Post, and Military.com.

Mr. Topol’s law practice has involved extensive civil and criminal litigation, with an emphasis on water, air and major hazardous waste enforcement cases, as well as international environmental law and toxic torts.  He has also advised clients on many of...

Gary Guzy, Environmental lawyer, Covington
Senior of Counsel

Gary Guzy brings thirty five years of experience in environmental law, regulation, and public policy. He provides counsel to industry leaders in the transportation, technology, and consumer sectors on emerging environmental and clean energy issues. He is skilled at creating strategic partnerships that bring together diverse groups to resolve challenging public policy controversies through close work with industry and environmental community leaders. Mr. Guzy co-chairs the firm’s Climate and Clean Energy Industry Group.