Democrats and Republicans from states with significant wind power industries are pushing for its extension during the lame-duck session.
Senator Lamar Alexander (R-Tenn.) recently said the nation’s fiscal situation has become so dire that the government can no longer afford to maintain a wind power production credit that has been in place since in 1992.
“I think there is certainly the largest realization that we’ve ever had that it’s time for it to end,” Alexander said at an energy policy breakfast hosted by The Hill and sponsored by the American Energy Alliance.
Alexander is a longtime opponent of the tax incentive, which credits wind power producers 2.2 cents per kilowatt-hour.
The credit, which would cost about $5 billon for a one-year extension, is scheduled to expire Dec. 31. It generates $15 billion annually in private investment.
Click here to read the complete article.
Source: Zack Colman | The Hill