IRS gives BIG $$$ to big wind
The IRS just upped the value of the production tax credit (PTC) for wind developers, propping up the industry to the tune of another $500 million for projects completed in 2013.
In one fell swoop, the IRS gave wind energy more than twice the amount President Obama wants for his proposed energy security trust in a single year. Not only has the wind lobby succeeded in pushing Congress to award the industry another ten years of taxpayer funded subsidies — totaling $12 billion — but now they have the IRS forcing taxpayers to pay even more to prop up energy they can’t use and don’t need. Just when energy producers are coming to terms with the bad investment that wind energy offers, the federal government is increasing the taxpayer-funded giveaways to special interests in the renewable sector.
Get more information on BIG bucks for big wind on the IER website.