Steel Markets
April 7, 2014
Tax Credits Renewed for Wind Turbines
Written by Sandy Williams
The Senate Finance Committee passed a bill on Thursday that would restore key tax credits for the wind industry. The renewable energy Production Tax Credit (PTC) and Investment Tax Credit were included in the Committee’s final tax extender package after the PTC was passed over in the first draft.
Sen. Michael Bennett (D-Colo.) sponsored the amendment to include the PTC that expired at the end of 2013. In a show of bi-partisanship, five Republicans joined 13 Democrats to defeat an attempt by Sen. Pat Toomey (R-PA) to remove the credits in an amendment proposed in a late Thursday morning committee markup.
