Thursday the U.S. House passed their tax reform legislation. American Wind Energy Association officials are concerned at language left in the House bill that eliminates the wind production tax credit along with the agreement to phase it out in 2019. AWEA’s Evan Vaughan says if the House version is adopted it will hurt investment in wind projects, harm rural economies and manufacturing jobs brought about by the wind energy industry.
Vaughan says the economic damage caused by the House tax bill to the wind industry will be felt severely in South Dakota, Iowa, Nebraska and Minnesota.
He says the Senate tax reform proposal left in the wind production tax credit along with the phase out language. Vaughan is hopeful once the Senate passes their measure that Senate-House conferees will adopt the Senate version.
Vaughan says that the wind energy industry went first on tax reform voluntarily agreeing to a phase out to give the industry time to adjust.. He says the House’s retroactive rule runs counter to that.
