GOP senators say wind tax credit is safe in their tax overhaul

Friday, 10 November 2017, 06:34:24 AM. Republican members of the Senate Finance Committee said they oppose a move by their colleagues in the House of Representatives to scale back the wind production tax credit. 
Republican members of the Senate Finance Committee said they oppose a move by their colleagues in the House of Representatives to scale back the wind production tax credit.  "We think that issue has been dealt with," South Dakota Senator John Thune, the Senate’s No. 3 ranking Republican, said in an interview. "There may be folks who would like to follow the House approach, but I don’t think that’s what we are going to able to do over here." RELATED: Gulf Coast wind farms become vital to Texas energy mix With this comment, three GOP senators -- each of them on the tax-writing committee -- have now said they oppose changes to the wind tax credit. Republicans hold a 52-48 advantage in the upper house. Democrats are largely opposed to the tax overhaul bill, and so the bill writers need the support of nearly every Republican in the Senate in order for the measure to pass. The subsidy, which provides a $23 per-megawatt-hour credit, is already scheduled to phase down and expire in 2020. It was extended in 2015 as part of a broader congressional compromise that also ended the ban on most crude-oil exports.  But, in a surprise move, the House tax bill released last week cut the credit by more than a third, and made it harder for projects still under construction to get the credit. Those changes reduced value of the credit by as much as 45 percent, according to an analysis by Clearview Energy Partners LLC. "We regard the PTC proposal as possible negotiating collateral for...Read more
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