BIPARTISAN SENATE VOTE BOOSTS NEW ENERGY

Senate Committee Passes One-Year PTC, ITC Provisions

3 August 2012 (North American Windpower)

“The U.S. Senate Finance Committee passed a $205 billion tax extender package as part of the Family and Business Tax Cut Certainty Act of 2012 that includes a one-year extension of the wind energy production tax credit (PTC) and the investment tax credit (ITC)…"

click to enlarge

“…[The bipartisan] tax extenders legislation includes tax cuts for small businesses, working families, research and development and renewable energy…Notably, the PTC and ITC provisions are for wind projects started in 2013…

“Republicans had reportedly withdrawn the wind energy PTC as a show of loyalty to presidential candidate Mitt Romney, who came out against the incentive…[I]n support of the wind PTC were Sens. Jeff Bingaman, D-N.M., John F. Kerry, D-Mass., Debbie Stabenow, D-Mich., Maria Cantwell, D-Wash., Bill Nelson, D-Fla., Benjamin Cardin, D-Md., and Kent Conrad, D-N.D."

click to enlarge

“The tax package passed the committee, 19-5, with the most conservative members voting against it. The extenders package measure is likely to be a top priority when the Senate returns in September…Although some are withholding judgment as to the bill's prospects - it still needs to pass the House - the news was welcomed by industry advocates…”

Tweet