U.S. Chamber of Commerce joins broad range of groups endorsing PTC extension

The U.S. Chamber of Commerce yesterday became the latest group to support extending the federal wind energy Production Tax Credit (PTC), the key incentive that has helped the U.S. wind industry expand dramatically over the last decade.

In a Senate Finance Committee hearing on tax legislation, Caroline L. Harris, the Chamber's Chief Tax Counsel and Director of Tax Policy, testified as follows:

“Inaction on these provisions has real consequences. Businesses need certainty and predictability…

“When Congress fails to act, provisions such as the wind Production Tax Credit… do not operate efficiently. Industries that are in their infancy are damaged because the code provisions they need to rely on to build up are not there. The damage is real as products are not developed and projects are not undertaken…

“Congress must act now to extend these vital provisions.”

Legislation extending the wind energy Production Tax Credit also recently received the endorsement of a broad coalition of more than 370 members, including the National Association of Manufacturers, the American Farm Bureau Federation, the Edison Electric Institute, the Western Governors’ Association, the United Steelworkers and many members of the environmental community. A four-year PTC extension also has the support of the bipartisan Governors’ Wind Energy Coalition, which includes 23 Republican and Democratic Governors from across the U.S.

Related articles:

Illinois, Kansas papers join chorus calling for PTC extension, January 31, 2012
Denver Post endorses PTC extension 'sooner rather than later', January 18, 2012
WSJ op-ed: 'Want Growth? Try Stable Tax Policy', January 5, 2012
Will Congress give gift of wind power jobs to Americans or foreign countries?, January 3, 2012
Don't hit wind with job-killing tax hike, December 5, 2011
Red State Energy, Red State Jobs, November 29, 2011
Governors' letter urges prompt extension of wind tax incentive, November 16, 2011
Wind power: Keeping America's lunch money at home, November 14, 2011
Clean energy: A bipartisan goal, November 9, 2011
Nonpartisan Congressional report underscores need for stable wind energy policy, October 3, 2011
Iowa Gov. Branstad cites wind jobs, current and future, September 14, 2011

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