U.S. Sens. Michael Bennet, D-Colo., and Jerry Moran, R-Kan., are making a bipartisan push to extend the production tax credit (PTC) for wind energy.
The senators have filed an amendment to a bill currently under debate in the Senate, and they say the measure is fully paid for. Sen. Mark Udall, D-Colo., is a co-sponsor of the amendment.
‘Colorado stands to suffer a huge economic blow if Congress can't get its act together and extend this critical tax credit,’ Bennet said. ‘The wind energy tax credit has been a huge plus for Colorado in terms of jobs created and advancing a diversified energy portfolio. This tax credit has bipartisan support, and Colorado companies are counting on us to get it across the finish line. It's time to act.’
"If we expect the wind energy industry to make long-term investments in their businesses and provide for our country's future energy needs, Congress must quickly work to reauthorize the wind production tax credit," Moran said. "Our failure to extend this tax credit would destabilize this growing manufacturing industry and cost thousands of American jobs. Kansas manufacturers are depending on Congress to provide long-term stability, and we cannot afford to miss this opportunity to invest in our energy future."
According to the American Wind Energy Association, the expiration of the wind PTC could lead to the elimination of as many as 37,000 U.S. jobs.
