Senator Lamar Alexander notes in his recent speech before the Senate that the production tax credit (PTC) sought by the heavily funded American Wind Energy Association lobby was initially intended to be a temporary tax break when it began in 1992.
Still begging after all these years, the wind business – aka energy’s hobo – has re-defined the abbreviation PTC to mean Permanent Tin Cup.
Senator Alexander, like many of us, asks: “And what do we get in return for these billions of dollars of subsidies? We get a puny amount of unreliable electricity that arrives disproportionately at night when we don’t need it.”
Senator Alexander’s full comments provided here for your convenience:
Full text at MasterResource: Sen. Alexander: Statement on Production Tax Credit ($27 billion over 10 years is enough!)
And what do we get in return for these billions of dollars of subsidies? We get a puny amount of unreliable electricity that arrives disproportionately at night when we don’t need it. ” Senator L. Alexander
Remember – federal subsidies for Big Wind — $27 billion over 10 years. This subsidy = production tax credit, renewable energy bonds, investment tax credits, federal grants, and accelerated appreciation. It was a temporary tax break put in the law in 1992.
Do examine how many dollars were received by wind developers, Review how many US Treasure 1603 grant dollars awarded to wind developers. View List of Awards. Remember the wind industry does not have to meet a requirement for energy output, There is no accountabilty. No responsibility to meet a standard.
Look around the community could this money have been spent differently? In MIneral County, Pinnacle MIssion Wind, LLC (Edison MIssion Energy) will walk away with some $40 million dollars, They have 20 year Power Production Agreement made with the State of Maryland. Thank you taxpayers and rate payers in Maryland are paying for this sweetheart deal..
Thank you Senator Alexander for speaking and sharing the truth. Thank you for speaking out against Coprorate Welfare.
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