Presidential Hopeful Bush Supports PTC Phaseout

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Presidential hopeful Jeb Bush told an Iowa crowd over the weekend that he supports phasing out the production tax credit (PTC).

The former Republican governor of Florida – and younger brother of former president George W. Bush – said that the PTC should be phased out over three to five years.

According to a MarketWatch report, Bush explained that the PTC is an example of sound policy that worked to support the growing industry. But, he said, ‘Wind is now competitive.’

It remains to be seen how Bush's wind energy stance will play in Iowa – a state that receives about 29% of its electricity from wind and employs approximately 4,000 workers in wind-related jobs.

‘We're encouraged to hear former Gov. Jeb Bush advocate in Iowa for the PTC to be renewed and receive the certainty of three to five years, as he put it, to help wind energy continue to become cost-competitive and maintain a diverse U.S. power grid,’ says Tom Kiernan, CEO of the American Wind Energy Association. ‘Our industry is vibrant, and we don't want it to fall off a cliff by not having the PTC extended again.’

Bush appeared at the Iowa Ag Summit with other GOP hopefuls Chris Christie of New Jersey and Wisconsin's Scott Walker.  Â

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