End wind energy tax credit
Using wind power to generate electricity is not a new idea. The first windmills used to generate electricity went up in the 19th Century. The production tax credit is also not a new idea. It is now about 20 years old.
Romney's opposition to continuing the wind subsidy is absolutely correct. At some point, an industry has to either succeed or fail on its own merits.
August 29, 2012
by Rep. Mike Pompeo
in The Politico
There's been a steady drumbeat recently from those seeking an extension of the wind production tax credit. For many reasons, including some that former Massachusetts Gov. Mitt Romney has carefully highlighted in his opposition, this is a bad idea.
First, an extension continues this unsettling policy trend in which citizens are asked to bear all the risks and gain none of the rewards. This socialization of risks and privatization of profits guarantees disasters, for corporate boards and even their federal overseers can become careless and, in some instances, reckless. This fact was clearly demonstrated by the Solyndra debacle... [continue via Web link]