More than 200 companies that do business in the wind industry have sent a letter to House leadership objecting to language in its tax reform bill. The House’s proposal substantially lowers the value of the wind energy Production Tax Credit (PTC) and retroactively changes the rules on how companies can qualify for it.
That puts 60,000 U.S. jobs at risk and jeopardizes $50 billion of private infrastructure investment. Half of the wind farms scheduled to be built between now and 2020 won’t move forward under this proposal, according to Bloomberg New Energy Finance, and a corresponding number of job losses would result.
The Senate’s tax reform proposal keeps the PTC phase down in place, however. Supporters are now urging their representatives to adopt the Senate’s approach to wind during tax reform, allowing rapid U.S. job growth and important economic investment in rural America to continue.
You can read the full letter by clicking on the image below.