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Governors' Wind Energy Coalition

November 3, 2017

Colleagues,

You probably heard that the House tax overhaul bill would cut the wind industry’s 2.3-cent-per-kilowatt hour tax credit to 1.5 cents and also hardens a deadline for its phaseout —changes estimated by congressional analysts to cut more than $11 billion in benefits to the industry over the next decade.  A 10 percent tax credit for the solar industry that was supposed to be permanent for utility-scale and commercial projects would be ended by the bill after 2027.

Congress had already approved a phase out of the wind energy production tax credit as part of a compromised passed in 2015.  The wind production tax credit begins phasing out this year before expiring in 2020.

It’s likely that the bill could change quickly since the chair of the House Ways and Means Committee said he may rewrite the bill ahead of the committee’s vote this Monday.  And amendments are likely to be adopted then, too.

We’ll follow the tax overhaul bill carefully and find the right time and forum for the governors’ message. That forum may be the Senate Finance Committee, chaired by Iowa Senator Chuck Grassley, which will probably draft its own, separate bill for the Senate’s consideration.

Larry

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