Congress Waving Wind Energy Tax Credit Goodbye?
October 30, 2012
By Peter Granitz | Alaska Public Radio Network: WASHINGTON DC - The Senate Finance Committee voted to extend the production tax credit (PTC) for one year in August. It still needs to pass the full Senate.
The vote came just days after GOP presidential hopeful Mitt Romney said he wouldn’t support the extension. Romney and President Barack Obama disagree on the credit. And it’s a point where the president likes to illustrate the divisions in the Republican Party.
“Governor Romney says these are imaginary jobs. When you’ve got thousands of people right now in Iowa, right now in Colorado who are working, creating wind power, with good paying manufacturing jobs,” President Obama said during the second debate earlier this month. “And the Republican Senator in Iowa is all for it, providing tax credits to help this work. And Governor Romney says ‘I’m opposed. I’d get rid of it.”
That Republican President Obama mentioned is Iowa’s Charles Grassley. A veteran on the Finance Committee, he voted to move the measure forward.
Chris Rose, executive director of the Renewable Energy Alaska Project, said CIRI, the Alaska Native Corporation that will sell power to Chugach Electric from the Fire Island project, took a different credit from the federal government – one that would pay thirty percent of construction costs.