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Governors' Wind Energy Coalition

November 26, 2014

PTC UPDATE: After ‘extenders’ deal fails, fate of renewable credit phaseout murky

Nick Juliano, E&E reporter  •    •  Posted 2014-12-01 04:44:42

The apparent collapse last week of wide-ranging tax discussions just as congressional negotiators were on the cusp of a deal leaves hanging in the balance a framework that would have phased out a key energy incentive over the next several years. Bipartisan negotiators believed yesterday they were about to solidify a nearly $450 billion deal to make permanent 10 tax breaks for businesses and individuals, temporarily extend dozens of additional incentives through next year, and phase out the production tax credit (PTC) through at least 2017 (E&ENews PM, Nov. 25). But the Obama administration objected to the package’s tilt toward business credits and lack of permanent incentives for low-income workers and parents, issuing an eleventh-hour veto threat that largely scuttled the negotiations, sources familiar with the process said today. [ read more … ]

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