Senate Finance Committee Proposes Repeal of HVAC Incentives in Tax Bill

The Senate Finance Committee released its draft tax and healthcare section of the reconciliation bill, which is coming up in the Senate this month. The Senate has made several changes to the House tax provisions, including delaying repeal timelines on HVAC provisions like Sections 25C, 25D, and 45L slightly. The major change is the repeal of Section 179D, the energy efficiency commercial buildings tax deduction. Section 179D was left untouched by the House tax proposal; this provision allows building owners to reduce their tax bill by installing efficiency HVAC, lighting, and insulation upgrades.