PYLE: More Tax Giveaways to Big Wind?

WASHINGTON D.C. — AEA President Thomas Pyle released the following statement in response to today’s decision by the Internal Revenue Service to establish a loose definition for the wind Production Tax Credit’s qualifying language. According to the new IRS guidelines, wind projects can receive 10 years of taxpayer-funded subsidies by committing as little as 5 percent of the costs by Jan. 1, 2014.

“The Internal Revenue Service has twice in one month tilted the tax code to the benefit of wind energy, first increasing the taxpayer cost of the production tax credit by as much as $850 million and now by defining the new qualifying language to enable the wind industry to receive maximum benefit for negligible commitment. Only under the current green regime in Washington could a company spend 5 percent of capital costs to receive 10 years and $12 billion in cash from the federal government. Once again cronyism pays off, and industries with friends in high places reap the reward. The wind industry has no better friend than the current administration. We only wish hardworking taxpayers received the same treatment.”

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