The House Ways and Means Committee's Subcommittee on Select Revenue Measures will hold a hearing today on how Congress should evaluate certain tax extenders – a meeting that will likely include discussion on the production tax credit (PTC) for wind energy.
The hearing will focus on tax provisions that either expired in 2011 or will expire at the end of this year.
‘As part of the Ways and Means Committee's ongoing effort to review dozens of tax provisions that either expired last year or expire this year, we need to consider carefully the principles that we should use to evaluate the merits of these policies," Chairman Rep. Pat Tiberi, R-Ohio, said in announcing the hearing.
"Having recently heard from our House colleagues about their views on many of these extenders, it is time for the subcommittee members to roll up their sleeves and see how the provisions stack up against what experts consider the principles of sound tax policy," he added.
In a similar House Ways and Means Committee hearing held in April, the PTC for wind energy had broad bipartisan support, including from Reps. Dave Reichert, R-Wash., and Earl Blumenauer, D-Ore.
The following witnesses will testify at the hearing:
- Dr. Jim White, director of tax issues for the Government Accountability Office;
- Dr. Donald B. Marron, director of the tax policy center at The Urban Institute;
- Alex Brill, research fellow at the American Enterprise Institute; and
- Aaron Gornstein, undersecretary for housing and community development at the Massachusetts Department of Housing and Community Development.
Although the hearing is not intended to focus on specific tax extenders, individual provisions may be discussed for the purpose of illustrating how to use such principles and metrics, Tiberi notes.