SENATE REJECTS CRUCIAL WIND TAX CREDIT

Senate Rejects Measure To Extend Wind Energy Production Tax Credit
Laura DiMugno, 13 March 2012 (North American Windpower)

"The U.S. Senate has voted to reject an amendment to S.1813, the Surface Transportation Bill, that would have extended several important renewable energy incentives - including the [urgently needed] production tax credit (PTC) for wind power - for one year…The measure…also called for an extension of the Section 48C advanced energy manufacturing tax credit, which expired in 2010, as well as an extension of the Section 1603 cash-grant program.

"Although the vote on the measure was even at 49-49, the amendment required 60 votes to pass, and was, therefore, not agreed to…The news comes as a disappointment to the wind industry, which was hoping for a boon in an uncertain economic climate…"

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[Denise Bode, CEO, American Wind Energy Association:] "…[T]ens of thousands of American jobs are being put in peril…[though] the wind production tax credit enjoys bipartisan…The clock is ticking, and the stakes for a timely extension of the PTC could not be clearer…We stand to lose one of America’s best new sources of American manufacturing jobs. With every day that goes by, layoffs are occurring and further job losses - and even plant closings - will accelerate with each month we near expiration in December.”

"…[T]he Senate voted on a third amendment to S.1813 that also had the potential to dramatically alter the U.S. energy landscape. The measure…would have extended tax credits for the oil and gas industries, as well as approved the Keystone XL Pipeline and opened up other areas for domestic oil and gas production…[Its sponsor] claimed the measure would [also] lower gas prices - an assertion that has questionable backing…The Senate…[voted it down] 41-57 vote."