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Grassley files amendments to restore wind, biodiesel tax credits  

Credit:  By Timothy Cama | The Hill | 07/28/14 | thehill.com ~~

Sen. Chuck Grassley (R-Iowa) said Monday that he had proposed amendments that would restore the tax credits for wind energy and biodiesel production.

Both measures would amend the Bring Jobs Home Act, which seeks to discourage outsourcing jobs by ending certain tax credits. The wind and biodiesel incentives, popular in Iowa because they benefits industries common to the state, expired last year.

“Renewable energy supports thousands of jobs and generates billions of dollars in investment across the country,” Grassley said in a statement. “If the Senate truly wants to create and retain jobs, restoring clean energy tax incentives should be at the top of the list.”

Grassley is not optimistic about his measures, because he does not expect Senate Majority Leader Harry Reid (D-Nev.) to allow any amendments to be considered.

“But I want to draw attention to the potential growth in a sector of the economy that’s right under our noses,” he said. “This area could get a real boost if the majority in Congress chooses to act to restore these tax incentives.”

Both credits were in a package of tax measures that failed in the Senate in May.

The wind credit in particular has been controversial, as it was meant as a temporary measure to help the wind energy industry to develop, but it was on the books for more than two decades.

Source:  By Timothy Cama | The Hill | 07/28/14 | thehill.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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