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PTC Elimination Act
Bill hr1901

Description

This week, Representatives Marchant and Pompeo introduced H.R. 1901, a bill to eliminate the Wind Production Tax Credit (PTC). The American Energy Alliance supports eliminating this subsidy and urges all Members of Congress to co-sponsor H.R.1901. Co-sponsorship of this legislation will be calculated into our American Energy Scorecard.

This legislation has several important provisions. First, it repeals the inflation adjustment, which would save taxpayers approximately 35% for the reminder of the ten-year window. It slightly adjusts and tightens the “beginning of construction” language that determines whether a company qualifies for the subsidy. It also repeals the entire statutory framework on December 31, 2025 to ensure the subsidies do not drag out beyond the next decade. Lastly, it includes a sense of Congress that the PTC should not be extended and should remain expired.

If this legislation were to become law it would effectively wind down and end this taxpayer-funded subsidy. There are numerous reasons to eliminate the PTC, some of which are explained below.

1. It Increases Electricity Costs

2. It is a Special Interest Handout

3. It Threatens the Reliability of the Electricity Grid

4. It Encourages “Cannibal Behavior”

5. It Destroys More Jobs than it Creates

6. It Stifles Innovation

7. It is Crucial to the EPA Power Plant Regulations

8. It Ignores Environmental Drawbacks of Wind Energy

9. It Props Up an Old, Failed Technology

10. It Promotes an Energy Source that Depends on Other Energy Sources

Members of Congress should embrace this legislation and consider including it in any tax extenders legislation that may be considered later this year. The American Energy Alliance will include co-sponsoring HR 1901 to eliminate the PTC as a component of a Member’s final score in our American Energy Scorecard.


AEA Position: Sponsor

54

Sponsored this bill

  • On The Bill
  • NOT ON THE BILL

Bill PTC Elimination Act

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