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Jackson, Ryan[jackson.ryan@epa.gov] POLITICO Pro Energy Whiteboard Fri 11/3/2017 5:46:00 PM Wind energy credit changes only apply to new construction
By Eric Wolff
11/03/2017 01:44 PM EDT
A proposal to cut the production tax credit for wind energy in the House tax bill will only apply to turbines built after the bill passes, according to a manager's markup published today.
The version of the Tax Cuts and Jobs Act, H.R. .1 (.1.15), introduced Thursday would eliminate the inflation adjustment to the production tax credit, lowering it from the 1.9 cents per kilowatt hour level that took effect this year to 1.5 cents per kilowatt-hour.
A summary from the House Ways & Means Committee indicated that the change would only apply to new turbines, but the bill text did not. The manager's amendment released today fixes that inconsistency.
Sen. Chuck Grassley (R-Iowa) has criticized the proposed language, noting that the PTC already has a scheduled sunset written into it.
To view online'. https://www.politicopro.com/energy/whiteboard/2017/11 /wind-energy-credit-changes-onlyapply-to-new-construction-095201
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