The Production Tax Credit (PTC) for wind energy is fast becoming the zombie of taxpayer nightmares. Every time you think this special interest giveaway is dead, Sen. Chuck Grassley, R-Iowa, and his alliance of subsidy-hunting policymakers conduct a legislative séance and conjure it from the great beyond.
Just before recessing for the month of August, the Senate Finance Committee approved a plan extending tax incentives for wind and other renewables. Smarting from his recent challenge from a Tea Party-backed insurgent, Utah Sen. Orrin Hatch seemed quick to forget its lesson as he supported the PTC extension. Now that he’s safe, he’s free to go back to his big-spending ways for another six years.
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