Senators Call For Extension Of Production Tax Credit

Posted by NAW Staff on February 24, 2012 No Comments
Categories : Policy Watch

Sens. Jerry Moran, R-Kan., and Mark Udall D-Colo., along with 10 of their colleagues, wrote to Senate party leaders this week to request an extension of the wind energy production tax credit (PTC).

In a letter sent to Senate Majority Leader Harry Reid and Senate Republican Leader Mitch McConnell, the senators wrote:

"The future of the American wind industry requires a stable tax environment in which to operate. If we are to expect wind energy to contribute to our country's future energy needs, Congress must quickly work to reauthorize the wind production tax credit before our wind production capabilities are damaged. We ask that you move quickly to extend the production tax credit."

According to the American Wind Energy Association (AWEA), turbines, towers and assembled nacelles are produced in more than 400 manufacturing facilities that employ tens of thousands of American workers. AWEA says that a failure to extend the PTC will weaken the manufacturing sector and destabilize the industry before it can demonstrate cost competitiveness in the marketplace..

"By extending this PTC, we must also be mindful of our country's current fiscal situation," the senators continued. "An extension of the wind production tax credit should provide for some long-term stability while setting forth a path for how the wind industry can move toward a market-based system."

In addition to Sens. Moran and Udall, the letter is signed by Sens. Scott Brown, R-Mass.; Michael Bennet, D-Colo.; John Boozman, R-Ark.; Tom Harkin, D-Iowa; Chuck Grassley, R-Iowa; Tim Johnson, D-S.D.; John Hoeven, R-N.D.; John Kerry, D-Mass.; John Thune, R-S.D.; and Jon Tester, D-Mont.

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