President Trump Holds the Line: Protects Middle Class Taxpayers from the Green New Deal

AEA cheers holiday reprieve for taxpayers, but more work needs to be done

WASHINGTON DC (December 17, 2019) – Thomas Pyle, President of the American Energy Alliance, issued the following statement in response to news of an agreement on tax extensions for FY 2020. The U.S. House of Representatives is scheduled to cast formal votes later today, which could end with a finalized budget on the President’s desk before Christmas.

“After a marathon political showdown, President Trump’s opposition to green subsidies has won the day. Credit is something you earn, not give away. Refusing to expand the costly, unnecessary, and unfair electric vehicle tax credit, the solar investment tax credit, and other green giveaways, is a major win for middle class American taxpayers.”

“President Trump stuck to his guns against a Congress hell-bent on saddling the cost of the Green New Deal on middle class American taxpayers. Companies like General Motors (GM) and Tesla have been clamoring for more taxpayer dollars to prop up their subsidy-based business model by doing everything in their power to influence our legislative process in their favor. But common sense has prevailed. President Trump deserves all the credit for holding the line on the electric vehicle tax credit expansion.”

“President Trump deserves credit for putting billions back into taxpayers’ pockets and the renewable energy special interests ought to be terrified at this outcome. AEA commends President Trump for making his opposition to a handout increase clear, and to the Congress for reaching a deal that allows the electric vehicle tax credit to run its course, as intended.”

Still, there were some failures. Congress’s year-end spending frenzy has, as usual, left taxpayers on the hook for ballooning federal expenditures and the biodiesel gravy train will continue, thanks mainly to Senator Chuck Grassley. Perhaps most disappointing, however, is the fact that the wind lobby will continue to receive a generous federal windfall through another extension of the wind production tax credit (PTC), essentially reneging on their commitment to wean themselves off the federal dole. The wind PTC will thus continue to distort electricity markets well into the 2030s, despite claims by the industry, and its lobbyists, that wind generation is now cost-competitive with other sources.

Pyle added the following about the PTC extension:

“Big Wind succeeded in securing themselves another taxpayer-funded, billion-dollar windfall, proving once again they are afraid to compete on a level playing field. You can bet they are already gearing up to take another run at picking our pockets again next year, but they won’t do so without a fight from AEA. You can take that to the bank.”

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