Tax Dollars Raise Electric Rates and Reward Crony Capitalists
Washington, D.C. – Dec. 12, 2012 – Myron Ebell, director of the Competitive Enterprise Institute’s Center for Energy and Environment, will join leaders and experts from nine other free market and conservative activist groups at a Thursday morning press conference to explain why Congress should not extend the Wind Production Tax Credit.
The press conference is set for Dec. 13 at 11 a.m. in the Dirksen Senate Building. Besides Ebell, it will feature remarks by Thomas Pyle, president of the American Energy Alliance, Larry Hart of the American Conservative Union, Pete Sepp of the National Taxpayers Union, Christine Harbin from Americans for Prosperity and Patrick Hedger from Freedom Works.
These experts will discuss the bill approved by the Senate Finance Committee to extend and expand the wind subsidy and why this corporate welfare represents an enormous waste of tax dollars at a time of fiscal crisis.
“The wind production tax credit is the worst kind of crony capitalism,” said Ebell. “It uses billions of taxpayer dollars to encourage states to pass renewable energy requirements, which in turn causes electric rates to go up for consumers in those States.
“Wind industry leaders have said repeatedly over many years wind power is on the verge of being competitive, or indeed is already competitive with, conventional sources of electric generation. If that is so, then the only reason to keep subsidizing wind is to pay off the crony capitalists who crowd the halls of Congressional office buildings.”
“Congress should not vote to extend the Wind Production Tax Credit, which is set to expire at the end of this year. That will save billions of taxpayer dollars and help prevent electric rates for consumers from going up and up.”
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