Tax-writing panel seeks additional details on PTC phaseout
While energy incentives are promoted based on the argument that they will be needed for only a limited amount of time, “very few, if any, of these industries have independently determined that these subsidies are no longer necessary,” Marchant said, requesting guidance from the panel.
June 11, 2012
by Nick Juliano
in E & E News
A key tax break for the wind industry was barely discussed today at a House hearing dedicated to getting recommendations from economists on how to evaluate the merits of more than 100 expiring tax incentives. But lawmakers made clear that the fate of the incentive — and the rate at which it could be phased out — remains on their radar.
Rep. Kenny Marchant (R-Texas) was the only member of the House Ways and Means Subcommittee on Select Revenue Measures to devote virtually his entire time for questions to energy-related tax incentives. He pointed to “provisions with the stated purpose of... [continue via Web link]