David Burton Quoted on Impact of Budget Sequestration
Akin Gump tax partner David Burton spoke with Renewable Energy World about the impact of the budget sequestration on the renewable energy sector.
In the article “U.S. Spending Cuts To Hit Renewables Sector,” Burton answers several questions pertaining to the spending cuts and their impact on the Treasury Department’s Section 1603 cash grant program. He discusses the industry’s reaction to the cuts, whether they are retroactive, their consequences and what the renewable industry can do about them.
In a separate article in Power Finance & Risk, “Sequestration Slices 1603 Cash Grants, Burton observes there are “some very large utility scale deals, some high profile, which may be affected” by cuts to the cash grant program. He adds that he does not think “lenders will be prepared to fill the hole from sequestration,” as they try to make up the lost money.