Extension of PTC, important deductions for low-income families included in package
Washington, D.C. - Congressman Dave Loebsack released the following statement today after the House of Representatives passed HR 2029, the Protecting Americans from Tax Hikes Act of 2015. Among other provisions, the bill extends the Production Tax Credit (PTC) for wind energy. Loebsack has been leading the fight in Congress for this extension in order to give the wind industry and the thousands of jobs in Iowa that it supports, the stability and certainty it deserves. HR 2029 also includes tax extenders for charities, low-income families, teachers, small businesses, and farmers. The legislation now goes to the Senate for its consideration.
"The extension of the PTC included in today`s bill will help support the thousands of jobs that the wind energy industry employs in Iowa alone. This current plan will help provide the stability and predictability that the industry needs and will not allow the rug to be pulled out from under this home grown, clean energy."
Loebsack continued: "Iowans deserve to have confidence in their tax system so they can plan for the future and make purchases. While I am pleased that many important provisions, including the Child Tax Credit, the Earned Income Tax Credit and certain charitable deductions, were made permanent, this bill is not perfect. Congress must work to continue to give families, charities, teachers and small businesses confidence in our economy."
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