Senate Rejects Measure To Extend Wind Energy Production Tax Credit
The U.S. Senate has voted to reject an amendment to S.1813, the Surface Transportation Bill, that would have extended several important renewable energy incentives - including the production tax credit (PTC) for wind power - for one year.
The measure, introduced by Sen. Debbie Stabenow, D-Mich., also called for an extension of the Section 48C advanced energy manufacturing tax credit, which expired in 2010, as well as an extension of the Section 1603 cash-grant program.
Although the vote on the measure was even at 49-49, the amendment required 60 votes to pass, and was, therefore, not agreed to. The news comes as a disappointment to the wind industry, which was hoping for a boon in an uncertain economic climate.
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