Senate set to vote on five-year extension of Wind PTC
Today, the new majority looks to extend that streak, as the chamber is expected to embark on a “marathon session” that will include an expected 18 amendment votes related to the Keystone XL Pipeline. If you are an avid fan of C-SPAN 2, the senatorial Super Bowl has come early.
While there are many important votes on the docket, one of the more unfortunate proposals is the amendment from Sen. Heidi Heitcamp, D-N.D., which would extend the Wind Production Tax Credit for five years. If approved, the measure would perpetuate a failed economic policy that has increased consumer electricity prices unnecessarily, costs taxpayers millions and that hinders genuine energy innovation.
The Wind PTC expired temporarily at the end of 2013, but it received a one-year reinstatement for projects already operating or under construction as part of the tax extender deal.
R Street scholars have written extensively on the problems with the Wind PTC. We hope the Senate will resist the call to once again extend this wasteful credit for even one more day, and work instead for real energy solutions that benefit both taxpayers and American consumers.