Lisa Linowes - March 21, 2020
As the White House and Congress negotiate a massive Covid-19 stimulus, the wind and solar industries are pushing for more PTC/ITC extensions. They are shameful and our political class can't be trusted. This letter to Congressional leaders emphasizes why the subsidies should expire as promised in 2015.
We are among the millions of taxpayers who watched in stunned disbelief as Senator Grassley and others in leadership reneged on their 2015 promise to permanently end the wind production tax credit (PTC) by 2019 if we accepted the phase-down. Instead, during the final hours before the December 2019 holiday break Congress voted for a PTC extension with an increase.
Now, less than 3 months later, the wind industry is again seeking preferred treatment as part of the COVID-19 stimulus bill negotiations. During this time when the health and finances of Americans are at risk due to this forced COVID-19 economic slowdown, it’s essential for Congress to understand the facts about wind and look past the hype promoted by industry proponents.
Please consider the following:
According to the US Treasury, the PTC and ITC represent the most expensive government expenditures in the energy sector over the next decade. Together, they dwarf all other energy-related credits and will reach over $9 billion in 2021 and over $60 billion by 2029.
(source: https://home.treasury.gov/system/files/131/Tax-Expenditures-2021.xlsx )
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