United States

United States

Senate leaves PTC out of tax break plans

UNITED STATES: The US production tax credit (PTC) has been omitted by the US Senate tax-writing committee from a first draft of temporary tax breaks for next two years.

The Senate Finance Committee released legislation on Tuesday outlining more than 40 so-called tax extenders it wants to preserve, and dropping about a dozen more.

Although the PTC did not make the cut, the American Wind Energy Association (AWEA) expects it to be added back into the package at some point this week.

"Negotiations continue. This is just one step in the process," said Peter Kelley, AWEA's vice-president of public affairs.

"We are confident the renewable energy production tax credit will be part of the final bill that passes the committee. That's because we have the bipartisan support."

Ron Wyden, the Democratic chairman of the committee, said he intends to make this extension the last one before a comprehensive rewrite of the tax code.

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