Sunday, December 12, 2010

Amazing: Tax Cut Bill Includes a Huge Subsidy for the Big Wind

The enhanced federal tax cut package expected to be voted on next week could include a windfall for Cape Wind and other renewable energy projects around the country, reports the Boston Globe.

The bill, released Thursday night in the Senate and widely distributed yesterday, extends a renewable energy credit worth up to 30 percent of a new project’s cost. The credit, introduced in 2009 as part of the Obama administration’s stimulus bill, originally applied only to projects under construction by the end of this year.

The tax deal before the Senate includes projects under construction by the end of 2011.

The tax credit program would cost about $1.3 billion to extend for a year, according to the Senate Finance Committee.


  1. I figgered out how leaders pass laws in the modern Congress. Have each congresscritter write down what expenditure, tax break, other benefit he wants for important constituants. Write all these benefits into the bill or conference. Presto, the law is enacted.

  2. Wes Clark has a financial interest in Juhl Wind. I wonder how his personal finances will benefit from this move, pushed by his buddy Bill Clinton?