November 20 (Renewables Now) - The US House of Representatives on Friday passed a tax reform bill that the American Wind Energy Association (AWEA) said would "cripple" the wind power industry.
The bill, introduced at the start of November, retroactively changes the qualification rules for the wind energy Production Tax Credit (PTC) and Investment Tax Credit (ITC). It also cuts the value of the PTC by ending the inflation adjustment.
In contrast, the Senate tax proposal, that passed the Finance committee last week, keeps the existing terms of the wind energy tax credits that are due to phase out by 2019.
"The House tax bill, far from being pro-business, would kill over half of new wind farms planned in the U.S. and undermine one of the country’s fastest growing jobs," AWEA chief executive Tom Kiernan and called on Congress to act immediately in conference to drop the House provisions on the PTC and ITC.