Wind Power Seeks Tax Exemption Extension

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According to Elijah Zarlin of CREDO Action, we are we are just weeks away from losing one of the most successful programs to promote wind energy in the U.S., and tens of thousands of the jobs that have come with it.

“The Wind Production Tax Credit (PTC), which expires at the end of the year was enacted in 1992. In addition to helping lower the cost of wind energy by 90% and power the equivalent of 12 million homes, the PTC supports 75,000 wind jobs and helps raise $20 billion in private investment in wind energy each year.”

The infamous Koch brothers,  along with American Energy Alliance and Americans for Prosperity are apparently waging a campaign to sink it.

Now this is what I don’t understand: how do right-wing Republicans rationalize–even to themselves–fighting against tax credits for new energy businesses, while fighting for corporate welfare for oil companies, and then claim that they are pro-innovative entrepreneurship and anti-welfare?

Thankfully, not all congressional Republicans oppose the tax exemption for wind power. The PTC is a bipartisan policy originally authored by Republican Iowa Senator Chuck Grassley.

But, Zarlin explains, the obstruction by the majority of Republicans could cost “an estimated 37,000 wind jobs over the next year, and already wind companies facing the changing economics without the PTC have laid off thousands of workers. The potential for wind energy in this country is massive — 20% of all our energy could come from wind by 2030, supporting half a million jobs. But the industry can’t grow without predictable policies. The PTC has been allowed to expire three times since 2000, and each time, new installed wind capacity, and jobs in the wind industry, have plummeted…it is extremely difficult for emerging sources of energy to compete, as the oil, gas and coal industries continue to benefit from nearly a century of government investment, subsidies, giveaways, tax breaks and now even a political system that has been shaped by their influence and money. But for the sake of our future, clean sources of energy must not just compete, they must surpass fossil fuels. The PTC keeps us moving in the right direction and Congress should renew it right away.”

Please go to the Take Action page of this blog and click to sign the petition to extend tax exemptions for wind power development.

One Response

  1. Asked in the article:
    “How do right-wing Republicans rationalize–even to themselves–fighting against tax credits for new energy businesses, while fighting for corporate welfare for oil companies, and then claim that they are pro-innovative entrepreneurship and anti-welfare?”

    Easy answer: because they likely do not havea stake in energy companies outside of oil! I’d be curious to know which states these Republican leaders represent.

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