Grassley: Don’t ‘pull the rug out’ from wind energy

Source: By Ramsey Cox, The Hill • Posted: Friday, November 21, 2014

Sen. Chuck Grassley (R-Iowa) demanded that any tax extender package include the wind energy tax credit.

“I’m concerned about rumors that some are working to leave out or shorten the extension of the wind energy tax credit,” Grassley said on the Senate floor Thursday. “I agree the tax code has gotten too cluttered … but it doesn’t mean we should pull the rug out from under domestic energy producers.”

Grassley said he was encouraged to hear that House and Senate lawmakers are holding informal talks to work out a tax extenders package. The tax code has been expired for 11 months and if lawmakers don’t pass a package by the end of the year to extend tax deductions, the Internal Revenue Service (IRS) could have to retroactively address the issue if something is passed next year.“Tax season is unpleasant enough without us adding to it,” Grassley said. “It’s now time to get to work and get the extenders bill done.”

Iowa is a large producer of wind energy. Some Republicans in the House want to end the wind energy tax because they say it helps the government pick “winners and losers” in the energy sector. Grassley pointed out that oil companies also get tax deals from the government.