From Senator Durbin

October 31, 2013
 
 
Dear Mr. Stafford:
 
Thank you for contacting me regarding a long-term extension of the production tax credit (PTC) for wind energy. I appreciate hearing from you and share your support for greater stability in the wind industry.
 
I cosponsored the Repeal Big Oil Tax Subsidies Act in the last session of Congress. This bill would extend tax credits for the production of electricity from wind resources and for investment in wind facilities through 2013. Unfortunately, the bill was not passed by the Senate. I remain hopeful that the PTC provision will be included in another measure.
 
The PTC was established in 1992 as part of the Energy Policy Act, which included a provision to promote energy production using renewable resources. Congress was able to pass a three-year extension of the PTC as a part of the economic recovery package that President Obama signed into law in February 2009. The production tax credit is an important incentive for wind energy producers in Illinois and across the country. The PTC provides a two-cents-per-kilowatt-hour benefit for the first ten operating years of a renewable energy facility. The extension of the PTC is important to the continued success of those companies working to reduce our nation's dependence on fossil fuels.
 
I strongly support the development and expansion of the wind industry.
 
Thank you again for contacting me. Please feel free to keep in touch.
 
Sincerely,
Richard J. Durbin
United States Senator
 
RJD/bkm
Durbin

E This Week

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