PTC extension was included in package of tax-extenders
Washington, D.C. - Congressman Dave Loebsack released the following statement today after the House of Representatives passed HR 5771, a One Year Tax Extenders Bill. The bill included a one year extension of the Production Tax Credit (PTC) for wind energy. Loebsack has been leading the fight in Congress to pass an extension of the PTC to give the wind industry, and the thousands of jobs in Iowa that it supports, the stability and certainty it needs.
"The extension of the PTC included in today's bill is the bare minimum that we must do to support the thousands of jobs that the wind energy industry employs in Iowa alone. While I would have liked to see the PTC extended for at least two years, this current plan will provide some of the stability and predictability that the industry needs. Now is not the time to pull the rug out from under this home grown, clean energy."
HR 5771 also includes tax extenders for teachers, small businesses, low-income families and farmers. The legislation will now proceed to the Senate for a vote.
"While I am pleased that the tax extenders bill finally passed the House, it should have been passed far sooner to provide certainty and stability. Iowa's small businesses, farmers and working families deserve to have some confidence in their taxes system so they can plan for the future and make purchases. Passing Band-Aids at the last minute is no way to keep our nation's economic system running. Iowans are demanding more from Congress and we owe it to them to work together to pass a long term bill and give people confidence in our economy."
###
