Is the renewable-energy production tax credit past its prime, or should it be given new life on Capitol Hill?
After months of speculation over when lawmakers would turn their attention to the credit that expired at the end of 2013, Senate Finance Committee Chairman Ron Wyden tacked an extension of the incentive onto a tax-extenders package that was marked up by the committee late this week. The legislation was approved by voice vote and now awaits consideration by the full Senate.
The production tax credit has given a major boost to the wind industry and other renewable-power projects over the past few years. Clean-energy backers have pushed hard for the incentive to remain in place, but some lawmakers say it's time to sunset the measure.
Should the production tax credit be revived, or is it time to say sayonara? Is the legislative outlook for an extension clear as day or cloudy with a chance of showers? What challenges await if the credit does move, and what's the most likely scenario under which it could be passed?
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