April 12, 2005 Photo: Zilkha |
"With a comprehensive energy bill moving slowly
through the Senate, advancing the PTC through means other than the energy bill
may allow for a PTC extension at an earlier date."
- AWEA Deputy Legislative Director Jon Chase
The American Wind Energy Association said the leading effort on the House of
Representatives side to enact a long-term production tax credit (PTC), was
introduced from Reps. Mark Foley (R-Fla.) and Earl Pomeroy (D-N.D.) who
introduced a bill (H.R. 1511) calling for a five-year extension through December
31, 2010.
Upon introduction the bill had 23 original cosponsors, including Ways and Means
Committee members Reps. Jim McCrery (R-La.), Henry Bonilla (R-Tex.), J.D.
Hayworth (R-Ariz.), Jerry Weller (R-Ill.) and Lloyd Doggett (D-Tex.). The bill
would simply extend the deadline for access to the credit and make no other
changes, thus leaving the annual inflation adjustment provision in place.
"Reps. Foley and Pomeroy are strong, effective, long-standing advocates for
the wind energy tax credit," said AWEA Legislative Director Jaime Steve.
"We look forward to working with both of these members of the tax-writing
House Ways and Means Committee to secure the longest possible PTC extension at
the earliest possible time."
AWEA is urging other members of Congress to co-sponsor the Foley-Pomeroy bill by
adding their names as supporters of the legislation. More than 90 House members
cosponsored similar legislation during the last effort to extend the PTC.
Meanwhile, the House Ways and Means (tax) committee - working under extremely
tight budget constraints - plans to advance the PTC outside of the broad-ranging
energy policy bill working its way through three different House Committees.
Instead, the Committee will seek to extend the PTC as part of a package of
expiring tax provisions attached to an upcoming budget bill.
Last year the tax committee had $25.7 billion to spend on energy tax credits.
This year's bill allots only $7.7 billion for all energy tax credits. As a
result, the energy tax package being put together by the Ways and Means
Committee will not include a PTC extension, nor will it include a number of
other popular, existing, tax items such as the credit for alternatively fueled
clean cars.
"With a comprehensive energy bill moving slowly through the Senate,"
said AWEA Deputy Legislative Director Jon Chase, "advancing the PTC through
means other than the energy bill may allow for a PTC extension at an earlier
date."
Information courtesy of AWEA
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