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the production tax credit

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Occurrences in the Congressional Record

Entry Title Date
Nomination Of Roy K.J. Williams To Be Assistant Secretary Of Commerce For Economic Development May 14, 2014
Lamar Alexander, R-TN
"I thank the Senator for his leadership. And when we talk about a 1-year or 2-year extension, it is important to note that we are talking about the next 10 years. Let’s say I qualify for the production tax credit—I am a wind developer this year, which means I get that credit for the next 10 years. That is why the 2-year extension of the wind production tax credit really spends tax dollars over the next 11 years when you count both those years. It totals $13 billion. We throw dollars around so much here, it is hard to get a sense of how much $13 billion is. In 2012 we spent $10 billion government-wide on all of energy research. It would be much better to use these dollars to reduce the debt or to use some of it for clean energy research. We need low-cost, clean, cheap energy. In my view, energy research is a much better use of taxpayer dollars, when they are available, than long-term subsidies. After nearly twenty-two years and eight renewals, the wind PTC has been around for far too long."
Hire More Heroes Act Of 2014—Motion To Proceed May 14, 2014
Ron Wyden, D-OR
"I will start briefly with the production tax credit. The wind energy industry, which benefits from the production tax credit, supports more than 50,000 jobs. Many wind companies are small, and they require lots of capital and planning to bring them to market. Their story illustrates what is important to end the cycle of stop-and-go tax policies that make our Tax Code, again, needlessly—as some would say, almost insanely—complicated and uncertain. Growth in wind energy has leveled off over the last 2 years, largely because of the expiration and late renewal of provisions such as the production tax credit."
Cloture Motion May 13, 2014
Edward Markey, D-MA
"Secondly, we are about to take up tax extenders, and we have a fantastic chance to extend the production tax credit for wind in our country. Unfortunately, because of the unpredictability of the tax breaks for the wind industry, 30,000 people in the wind industry were laid off last year. That is not because the wind industry didn’t prove it could increase the amount of electricity in our country generated from wind; it is because—unlike the oil industry, unlike the gas industry, unlike the nuclear industry, unlike the coal industry—the wind industry has to come in, hat in hand, to beg to continue their tax breaks year after year. There is no predictability for that marketplace. This gives us a chance to extend those tax breaks."
Hire More Heroes Act Of 2014—Motion To Proceed—Continued May 13, 2014
Ron Wyden, D-OR
"There is one last part of the bill I would like to touch on; that is, the incentive for clean energy. Previously I chaired the energy committee, and I saw how essential it was to generate investment in clean energy. It is an area of our economy that has been plagued by the stop-and-go nature of tax policy. Now is the time our country should be investing in low-carbon and energy-diverse alternatives. Some of the provisions in the EXPIRE Act have been extraordinarily successful in doing just that. The production tax credit for renewable energy that includes wind, geothermal, hydropower, and biomass has helped drive major growth in renewable clean energy. Wind in particular has boomed over the past 5 years. It now accounts for more than 60,000 megawatts of wind generation across the country. Wind energy production has more than doubled since 2008. That is enough to power more than 15 million homes and the energy supports more than 50,000 jobs. The growth of this industry has been a boon to manufacturing, supporting more than 500 manufacturing facilities."
Energy Savings And Industrial Competitiveness Act Of 2014—Resumed May 12, 2014
Jeff Flake, R-AZ
"But today I will discuss for a minute one extender that is ripe for elimination—the Production Tax Credit, otherwise known as the PTC. "

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