Shame on you, Senator Rob Portman!

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….

The most egregious of the tax extenders are the energy subsidies. Most of these industries, particularly Big Wind, make little or no profit, offer the public no investments, and pay no taxes, yet their productivity is almost completely subsidized. The 2.2 cent per kilowatt-hour production tax credit is by far the most offensive of the credits. The Heritage Foundation estimates that if the oil industry received a commensurate subsidy, they would get a $30 dollar check for every barrel produced. This refundable credit is the corporate equivalent of the Earned Income Credit and is woefullydistorting of the energy market….

Senator Pat Toomey (R-PA) did propose an amendment to eliminate all of the energy subsidies within the package, but it only garnered the support of five other Republicans–Senators Burr, Enzi, Hatch, Isakson, and Roberts. Democrats voted down the amendment, along with support from GOP Senators Grassley, Crapo, Cornyn, Thune, and Portman. Ultimately, the underlying bill was adopted unanimously by voice vote…

via Green Energy Subsidies Pass Senate Finance Committee by Voice Vote.

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