Visit windpowermonthlyevents.com for the latest on our upcoming conferences and webcasts

United States

United States

US Chamber of Commerce backs PTC extension

UNITED STATES: The US Chamber of Commerce has joined the list of groups backing an extension of the Production Tax Credit (PTC).

The chamber's director of tax policy Caroline Harris said indecision about the credit was potentially harmful to businesses and projects.

She said: "When Congress fails to act, provisions such as the wind Production Tax Credit … do not operate efficiently. Industries that are in their infancy are damaged because the code provisions they need to rely on to build are not there.

"The damage is real as products are not developed and projects are not undertaken. Congress must act now to extend these vital provisions."

Some industry observers believe the PTC could be extended this month. Wind power’s eligibility for the tax credit does not expire until December 31, 2012. But if the PTC is not extended as part of the payroll tax legislation, Congress will likely only consider it after the 6 November federal and presidential votes.

The chamber's endorsement follows that of President Barack Obama's Council on Jobs and Competitiveness. The council said the PTC will help the US "diversify its generation portfolio and prepare for rising levels of energy demand."

A four-year PTC extension also has the support of the bipartisan Governors’ Wind Energy Coalition. The group includes 23 Republican and Democratic Governors from across the US.




Subscribe to daily email bulletin Windpower Daily






 

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Only [DAYS_LEFT] days Subscribe Now

Left of your Windpower Monthly free trial

Your free trial Subscribe Now

to Windpower Monthly has expired

Windpower Monthly Events

Search more than 4,500 companies in the Windpower Directory

Latest Jobs