The Energy Policy Act of 1992 established the federal wind Production Tax Credit (PTC). The PTC was intended to provide wind energy producers a subsidy for every kilowatt hard of electricity produced. After more than twenty years, and tens of billions of tax-payer dollars later, it is time to end the PTC.
The Energy Policy Act of 1992 established the federal Wind Production Tax Credit (PTC). The PTC was intended to provide wind energy producers a subsidy for every kilowatt hard of electricity produced.
After more than twenty years, and tens of billions of tax-payer dollars later, is time to end the PTC.
To its credit, the wind industry has matured to point where it no longer needs the PTC.
This sweetheart deal should be phased out because it succeeded in what it set out to do.
Over the past five years, wind has accounted for 36 percent of all new electricity generation installed in the U.S., second only to new natural gas installations. Wind power now supplies more than 4 percent of the country’s electricity.
“Waste in the Wind” is new formed collection of fellow believers in individual rights, free markets and limited government, asking them to join a new coalition that is calling congress the end the PTC.
“Waste in the Wind” is going the road this May, June and July in order to garner public support for the end of the wind tax credit that can be used to convince select member of the U.S. House of Representatives to join us in ending this one of the biggest waste in Washington spending.
We would be honored if you or a member of your organization would join us as we travel to targeted states and congressional districts campaigning for our cause.
The time to act is now.
Last November, more than 50 lawmakers urged House Ways and Means Committee Chairman Dave Camp to let the wind energy credit expire at the end of the year, arguing the subsidy "is now more valuable than the price of the electricity the plants actually generate."
At moment, the U.S. Senate is considering extending more the fifty tax incentives that includes the PTC.
This spring, both houses of Congress will be reviewing tax credits offered to business to decide which credits are made permanent, extended or stripped away.
If the PTC is extended for five years, as is now being discussed, it would cost the American taxpayer an additional $18 billion.It is not the role of the federal government to pick winners and losers in any market.
National energy policy needs to what is best for taxpayers and not manipulate markets or industries.
The wind tax credit has cost taxpayers billions of dollars, manipulated energy markets and directed tax dollars to politically favored technologies and companies.
The time is now for wind power to stand on its own.