PTC has made it past the Senate (as everyone knows by now)
September 25, 2008
While CEP was a-confererencing in Topeka, the Production Tax Credit (PTC) made it through the Senate by a heretofore thoroughly unexpected margin – 93-2 or something like that. From the AWEA release:
Senate overwhelmingly passes PTC Extension. Crucial House vote expected late this week.
The U.S. Senate just voted overwhelmingly, 93 to 2, to approve legislation containing a one-year extension of the crucial wind energy Production Tax Credit (PTC) through December 31, 2009. The bill, H.R. 6049, also would create a new investment tax credit for purchases of small wind systems used to power homes, farms and small businesses.
Next, the bill must be approved by the full House of Representatives in a vote late this week. Once again, your voices are crucial in order to clear this final hurdle before Congress adjourns at the end of September. This vote is the last opportunity this year for Congress to extend the PTC.
Wind energy is not only a significant component of the global warming solution, but also a powerful engine in the U.S. economy. Since January 2007, more than 40 wind industry manufacturing facilities have been announced, brought online, or expanded in the U.S., creating over 9,000 jobs and $1 billion in manufacturing investment. When the PTC has lapsed in the past, wind energy investments have fallen 73-93% in the following years. We cannot allow this bright spot in our economy to burn out.
Now of course the PTC has to make it past the House. Which it has done before, but not in this particular bill formulation. (Note the small wind credit now included in the bill.)
And Congress is, um, going through a challenging period right now.
So let’s all send them happy thoughts. They can pull through, they can do the right thing, they can restore our trust. Yay Congress! Go Congress! Hang in there. Don’t stamp out the brave, plucky (and really lonely) little bright spot in America’s long-term economic future… listen to the good angel… Etc.
As always, regardless of your particular position on this policy intiative, do share your thoughts (and loving support) with your elected representative (find them through www.congress.org).
For the CEP fact sheet on the PTC, click here.
— Maril Hazlett, www.climateandenergy.org
