Senator led letter with 29 Senators calling for extension of vital tax credits for wind, energy efficiency, renewable fuels

WASHINGTON (April 3, 2014) – Senator Edward J. Markey (D-Mass.) today commended his Finance Committee colleagues for passing out of committee by voice vote a tax bill that would extend key tax credits to spur renewable energy deployment. Included in this package was a two year extension of the Production Tax Credit (PTC), a critical incentive that has driven tens of billions of dollars in private investment and helped to create tens of thousands of jobs in the wind industry. Senator Markey and 28 fellow senators called for an extension of the PTC and other tax measures included in today’s package in a letter to the Finance Committee leadership sent last week.    

“Today, the Finance Committee acted boldly to roll back the dangerous tax increases that hit the wind industry and other clean energy sectors on January 1. Extending these vital tax credits for wind, geothermal, energy efficiency and other American energy production will preserve and grow jobs and cut the dangerous pollution that causes climate change,” said Senator Markey. “I commend Chairman Wyden, Ranking Member Hatch, and the other members of the committee that supported this tax package. Tens of thousands of jobs in nearly every state are at risk in the wind industry alone if we do not pass this bill. We must bring this legislation to the Senate floor as soon as possible.”

On March 26, 2014, Senator Markey along with 28 colleagues sent a letter calling for an extension on the PTC and other key tax credits. In addition to the PTC, the package that passed today included other provisions called for in the Senator’s letter, including an extension of energy efficiency credits for new homes and efficient commercial buildings, credits for advanced biofuel production, and deductions for employer-provided public transportation benefits. The letter can be found HERE.