SENATE FINANCE VOTE BACKS WIND INCENTIVE 23-3

Senate committee votes 23-3 to extend federal tax credits…strong bipartisan support for American wind power, renewable energy tax incentives

July 21, 2015 (American Wind Energy Association)

“…[The U.S. Senate Finance Committee voted] overwhelmingly to extend over 50 tax policies through 2016, including the renewable energy Production Tax Credit (PTC) and Investment Tax Credit (ITC) that incentivize the building of more U.S. wind farms. The committee on a final vote of 23-3 reported out a ‘tax extenders’ bill preserving language that allows wind farms to qualify so long as they start construction while the tax credits are in place…Those credits expired at the start of this year, again throwing the future of American wind energy into doubt once projects currently under construction are completed… In 2013, after the renewable energy tax credits were allowed to expire even briefly, installations of new wind farms fell 92 percent, causing a loss of 30,000 jobs across the industry that year. After Congress renewed the PTC, the U.S. wind energy industry added 23,000 jobs the following year, bringing the total to 73,000 at the end of 2014…” click here for more

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