The Joint Committee on Taxation released an analysis September 20 on the intersection of tax policy and energy policy in advance of last week’s House Ways and Means Select Revenue Measures and Oversight subcommittees September 22 joint hearing. The report, Present Law and Analysis of Energy-Related Tax Expenditures and Description of the Revenue Provisions Contained in H.R. 1380, The New Alternative Transportation to Give Americans Solutions Act of 2011, summarizes present laws and discusses the economic rationale for government intervention in energy markets through the tax code. Major topics of the hearings included the Section 45 production tax credit and Section 48 investment tax credit for clean energy, as well as the 1603 Treasury grant program and a new mechanism to finance renewable energy projects with the creation of a trust fund and reverse auction.