New House Bill Would Extend PTC Through End of 2013

Accounting Today, June 28, 2012

Democrats on the House Ways and Means Committee have introduced a bill that would extend the renewable-energy Production Tax Credit, providing a 2.2-cent-a-kilowatt-hour credit for electricity produced by wind turbines, through the end of 2013. Under the proposal, the PTC's extension would be paid for by repealing dual capacity taxpayer benefits for the five richest oil and natural gas companies, which earned a combined $32 billion in profits during the first three months of 2012. Under the measure, wind project developers could continue to choose to instead receive a 30 percent investment tax credit.   

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