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newsroom Wind Energy in the NewsPTC Update: Congress Seeks Common Ground Congress returned from the July 4 recess this week, resuming the battle over extension of the renewable energy production tax credit (PTC), which is set to expire December 31. Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (RKy.) exchanged public letters regarding the resolution of the tax extension debate. The two Senators have one common view on this issue, expressed by Reid in his July 8 letter to McConnell: “I strongly share your hope that the Senate can work out a bipartisan solution to extend these important tax incentives before the August recess.” However, in the letters neither Senator suggested a compromise that was welcomed by the opposite party. In the weeks before Congress adjourned for the July 4 recess, the Senate held two nearly identical votes on motions to begin consideration of the tax extension legislation approved by the House of Representatives in May. Both efforts fell well short of the 60 votes needed to overcome a filibuster. The central points of contention were the revenue-raising measures used to offset the cost of the extension. Democrats have largely favored offsetting the cost of tax credit extensions, while Republicans have largely argued that offsets are unnecessary for extension of any existing credit. This discussion continues to move forward slowly. Another Senate vote on the House tax extension legislation is expected next week, but this vote is again unlikely to secure the 60 votes necessary to allow the legislation to move forward. AWEA encourages its members to reach out to their Congressional representatives in the Senate and House, urging immediate bipartisan cooperation on an extension of the PTC. Representatives’ contact information as well as information on sending e-mail messages to Congress are available on AWEA’s Take Action Web page. Source: Wind Energy Weekly, 11 July 2008
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