Obama official: Ending wind credit could have ‘devastating effect’

Wellinghoff was giving his personal opinion on the Monday announcement from GOP presidential candidate Mitt Romney’s campaign that he favors letting the PTC end as scheduled on Dec. 31.

The Obama administration has called on Congress to extend the wind credit. The administration and wind industry firms say the uncertainty surrounding the tax incentive has led to layoffs.

An Obama aide on Monday criticized Romney’s PTC stance, arguing it is at odds with his promises on jobs and portraying the GOP White House challenger as tied to oil and gas interests.

The PTC pays wind power producers 2.2 cents per kilowatt-hour.
The number of wind power installations has plummeted in the past when the credit was allowed to lapse, which last happened in 2004.

Many lawmakers have dallied on the PTC issue because they want to take a broader look at the federal tax code. A large contingency of Republican lawmakers also oppose what they view as an Obama green energy initiative.


Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

See all Hill.TV See all Video

Most Popular

Load more


See all Video