Shame on you, Rob Portman, of Ohio! He caved and supported the BigWind handout. Do you know him? If so, please call him and share your disappointment…
Republicans claim they are unable to roll back anti-free market policies with their limited control of the federal government. But one would expect them to block renewals of bad policies once they have expired.
Last year, Congress allowed the wind energy subsidy (Production Tax Credit) to expire, along with dozens of other targeted market-distorting “tax extender” pork provisions. Evidently, not being able to take yes for an answer, some Republican members of the Senate Finance Committee helped Democrats pass these special interest subsidies.
All conservatives agree that we need to lower the tax burden on businesses and individuals who actually pay taxes, but it is important that we differentiate between tax cuts and subsidies. Tax cuts take the form of universal reductions in net taxes for those individuals and entities that actually incur a positive tax liability. Targeted or parochial credits (and certainly refundable credits) for specific industries, products, or services–especially those who pay little or no taxes–are nothing but subsidies and corporate welfare….