by Christopher Mims. The debt deal Washington just passed is going to pit defense spending against the budgets of the DOE, EPA and incentives for clean energy production, GOP strategist Mike McKenna tells Politico . No one knows what will actually be cut — that's to be decided by a bipartisan committee — but plenty of programs to protect the environment and fund green energy already have big fat targets on them. “They’ve set up a structure in which the Republicans are going to have maximum incentive to blow up loopholes and credits because the other choice is to cut defense,” [said McKenna]. “So this is where all the mayhem on energy tax credits is going to get done.” This, he said, could include wind, solar and other renewable energy production and investment tax incentives. The good news is that tax incentives for oil and gas companies will also be on the chopping block. The bad news is that those industries have infinitely more influence in Congress and are probably the least likely old-economy interest to see their handout crimped. Many of the incentives for ethanol production will probably finally get the axe, however. The EPA is almost certain to see across the board cuts, shrinking it overall.

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