PTC Elimination Act Protects American Families
WASHINGTON – Today, the American Energy Alliance lauded Representatives Kenny Marchant and Mike Pompeo for introducing H.R. 1901, a bill to eliminate the wind Production Tax Credit (PTC).
The bill tightens eligibility requirements for new wind projects, ends an inflation adjustment provision—saving taxpayers about 35 percent—and repeals the underlying statute so the subsidies will stop flowing by 2025.
“The wind lobby says it wants certainty on the wind PTC and that’s exactly what this bill accomplishes,” said American Energy Alliance President Thomas Pyle.
“The PTC was intended to be a temporary subsidy for a fledgling industry, but has morphed into a massive handout for large corporations, many of which are foreign owned—all at the expense of the American taxpayers. It’s a textbook case of corporate welfare.
“Every year Big Wind clamors for an extension of the PTC while at the same time claiming they don’t need the credit to be competitive. It’s past time for the wind industry to sink or swim on its own merits.
“Congressmen Marchant and Pompeo are offering up reasonable reforms that give certainty to wind producers while protecting the long-term interests of American families. Now it’s upon the wind industry to meet Congress halfway and prove that they are ready and willing to get off the government dole.”
Additionally, AEA will include co-sponsoring the PTC Elimination Act as a component of a Member’s final score in our American Energy Scorecard.
Click here to read AEA’s scorecard alert for H.R. 1901, the PTC Elimination Act.