The U.S. House and Senate should not extend the wind production tax credit that has subsidized the wind industry since 1992. This tax expenditure is due to expire at the end of this year, and it should be allowed to do so, permanently. Renewing the production tax credit would cost billions that our nation simply cannot afford.
It has been evident for years that government support for wind energy development is very costly and has failed to establish industrial-scale wind as a self-sustaining contributor to meeting our energy needs.
After more than three decades of government subsidies, the wind industry cannot support itself, does not make a significant contribution to meeting our energy needs and has no realistic prospects for doing so in the foreseeable future.
Since the production tax credit was first introduced in 1992, the government has provided $40 billion to the wind energy industry in tax credits and cash grants, with these costs dramatically increasing in recent years. In the past year alone, nearly $5 billion has been distributed.
There is no plausible justification for continuing this spending, and certainly not when the nation is facing the huge debt and deficits prevailing today.
Our federal legislators should let the wind production tax credit expire.
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