Turbine tax credit, jobs at risk
But Congress is setting aside the credits, deductions and other tax breaks until after those much bigger negotiations. That decision is creating uncertainty among some Maine businesses that take advantage of the tax breaks.
November 26, 2012
by Kevin Miller
in Portland Press Herald
WASHINGTON - The tax reform momentum that seems to be building in Congress may imperil tax credit programs that have had major impacts in Maine, including wind power investments and economic development projects in rural or low-income areas.
The credit for electricity produced at wind farms, as well as the New Markets Tax Credit program, are both due to expire Dec. 31. In Maine, wind farms have supported hundreds of construction jobs on projects that are generating 400 megawatts of electricity -- with 1,000 more megawatts on the drawing boards. The New Markets program has funneled $221 million into... [continue via Web link]