The proposed Senate tax reform bill honors the 2015 bipartisan phase-out terms for the wind energy Production Tax Credit (PTC). It is a stark departure from changes to the PTC phase-down in the House bill, which include retroactive rule changes that the American Wind Energy Association (AWEA) says put at risk tens of thousands of jobs and at least $50 billion of investment tied to projects already under construction. “The Senate tax reform bill keeps a promise to America’s more than 100,000 wind energy workers and restores the confidence of businesses pouring billions of dollars into rural America,” said Tom Kiernan, CEO of AWEA. “For a rapidly growing number of Americans, including our nation’s veterans, wind power means well-paying, stable jobs.” The Senate tax bill also leaves in place the 2015 terms for the wind Investment Tax Credit, an investment tool favored by offshore wind developers.
Senate tax reform preserves wind energy PTC