Windy Republicans: GOP Congressmen sign up for energy crony capitalism
The vote on the PTC will be a big moment for the GOP. One reason the party lost its way in the Bush years is that it became a vehicle for special business pleading instead of free markets. If the party is serious about tax reform, deficit reduction and ending corporate welfare, then it will vote to take wind power off the taxpayer dole.
May 7, 2012
in Wall Street Journal
The GOP swept Congressional elections in 2010 promising to end President Obama's $800 billion stimulus and stop industry bailouts. Too bad nobody told that to Iowa Republican Steve King and his colleague Dave Reichert of Washington.
The duo held a press conference last week singing the praises of wind power and urging an extension of the federal Production Tax Credit (PTC) for renewable energy, which is scheduled to end in January. The green-energy lobby probably can't believe its luck.
The $1.2 billion a year PTC was created as a temporary boost for green energy in 1992. It offers a 2.1 cent... [continue via Web link]