We cannot thank you enough for supporting our efforts to end the taxpayer subsidy for wind. The House passed a retroactive one year extension of the credit which will expire on December 31, 2014. This means to be eligible for the tax credit, a project would need to commence construction in the next 27 days. It remains to be seen what will happen in the Senate but the package is likely to be enacted. The PTC will come back for discussion again next year. We have provided below an article about the events of the day in Washington.
Ohio is so very important in this deliberation on Capitol Hill and in the House of Representatives. Westerville, Ohio Congressman Pat Tiberi holds an important post on the House Ways and Means Committee. When Speaker of the House John Boehner served in the Ohio legislature, a young Pat Tiberi was his legislative aide. Another Westerville native, Brad Bailey, served as a Congressional aide to Rep. Tiberi and now serves Speaker Boehner as a policy advisor. As you can see, it is very important that Ohioans share their concerns with their Congressmen/women!…
The House on Wednesday approved a bill extending a raft of temporary tax breaks, but only through the rest of this year, reflecting lawmakers’ struggles over tax policy even on short-term measures. The vote was 378 to 46.
Almost no one in Congress advocates the patchwork approach, but lawmakers and the Obama administration have been unable to agree on any longer-term solution, given partisan divides. And the frequently expiring temporary breaks have led to repeated, growing clashes….
Even the short-term extension has been difficult, as the White House and GOP lawmakers have tussled over which breaks get renewed and for how long. The House settled on its package this week; the outlook in the Senate remains less clear, though a leading Democrat, Sen. Ron Wyden (D., Ore.), believes that “at this point there doesn’t appear to be a procedural path forward” for an alternative deal, a spokeswoman said….
Congress started creating the long list of temporary tax breaks over 30 years ago. It has grown as lawmakers have added more temporary breaks, in a practice that allows them to try out new policy ideas, while masking their real long-term budget cost.
The fact that these costly breaks usually come up at the end of the year exacerbates matters, as lawmakers end up extending them with a promise to rewrite the tax code the following year. But in the face of a grim long-term budget outlook, the task of an overhaul has proved too difficult for Congress so far.
Meanwhile, the cost of the extenders package has grown tremendously. Congressional estimators said recently that making all the temporary breaks permanent would cost almost $1 trillion in the next decade—serious money, even by Washington standards.
The package also has become increasingly unwieldy and controversial. Many conservatives, for example, have objected to the package’s subsidies for alternative energy, which they regard as inappropriate government intervention in the energy industry. Liberals, meanwhile, complain that the package contains too many giveaways to big businesses. Those disagreements have made even relatively short-term extensions difficult in recent years.