Kochs and Republicans launch bid to snuff out wind-energy tax incentives

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http://grist.org/news/kochs-and-republicans-launch-bid-to-snuff-out-wind-energy-tax-incentives/

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A key tax incentive credited with boosting wind-energy capacity in the U.S. is due to expire in eight weeks, and fossil fuel lobbyists are working hard to blow it to oblivion.

The Koch-backed conservative group Americans for Prosperity is launching an advertising campaign calling on lawmakers to allow the production tax credit (PTC) to expire on Dec. 31.

The wind industry says the tax credit was critical in helping it to attract as much as $25 billion in private investment last year, all the while helping the country reduce carbon emissions. A single multinational company credits it with adding hundreds of jobs at its American factories.

Extending the tax credit for five years could cost the federal government $18.5 billion, by one congressional estimate. That’s just too much, says the fossil fuel sector, which just so happens to compete with wind energy.

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