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Lawmakers urge renewal of wind energy tax credits

A group of 144 members of the Congress sent letters Friday urging their colleagues to renew tax credits that help the wind energy industry.

The members want credits for investment in renewable energy technology and production of electricity to be renewed. Both credits expired at the end of 2013.

“Like all businesses, the wind industry seeks certainty and predictability so that long-term project decisions and investments can be made,” said the letter signed by Sens. Chuck GrassleyCharles (Chuck) Ernest GrassleyBarrett confirmation stokes Democrats' fears over ObamaCare On The Money: Power players play chess match on COVID-19 aid | Pelosi bullish, Trump tempers optimism | Analysis: Nearly 1M have run out of jobless benefits Grassley: Voters should be skeptical of Biden's pledge to not raise middle class taxes MORE (R-Iowa) and Mark UdallMark Emery UdallThe 10 Senate seats most likely to flip Democratic presidential race comes into sharp focus Democrats will win back the Senate majority in 2020, all thanks to President Trump MORE (D-Colo.), along with 24 other senators.

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“Without that stability, we once again risk losing many of the jobs, infrastructure and investment that the wind industry has created,” they wrote.

Reps. Steve KingSteven (Steve) Arnold KingDemocrats lead in 3 of 4 Iowa House races: poll Hillicon Valley: House votes to condemn QAnon | Americans worried about foreign election interference | DHS confirms request to tap protester phones House approves measure condemning QAnon, but 17 Republicans vote against it MORE (R-Iowa) and Dave LoebsackDavid (Dave) Wayne LoebsackDemocrats lead in 3 of 4 Iowa House races: poll House Democrats target Midwestern GOP seats The Hill's Campaign Report: Physician candidates lean on medical experience amid coronavirus campaigning MORE (D-Iowa) sent a similar letter along with 116 of their colleagues.

The production tax credit (PTC) provided 2.3 cents per kilowatt-hour for wind turbines during the first 10 years of the utilities’ operations and 1.1 cents for some other renewable energy sources. The investment tax credit (ITC) was worth up to 30 percent of the costs of developing wind turbines, and 10 percent or 30 percent for other sources.

“We look forward to Congress, in particular the Senate Finance Committee, acting quickly to extend the PTC and ITC so that the U.S. remains a global leader and our businesses can continue building, expanding and hiring,” Tom Kiernan, CEO of the American Wind Energy Association, said in a Friday statement.

The Senate Finance Committee will consider extending more than 50 tax incentives, including the renewable energy credits, next month, the committee said Wednesday