The mention of environmental benefits is interesting, since the free market can often fail to capture both such costs and benefits. That’s one of the premises behind a carbon tax, which even some conservative economists favor, yet American For Prosperity says on its website that it is “opposed to a carbon tax in any form.”
Just before Congress took its August recess, the Senate Finance Committee voted — with the support of Iowa Republican Chuck Grassley and Kansas Republican Pat Roberts — to retain the wind PTC as part of a package of tax breaks. Most observers think the chances of further action on the PTC before the election are slim, leaving the matter up to a lame duck Congress. President Obama strongly supports the PTC. The wind industry argues that jobs are already being lost as a result of the lack of certainty about the PTC, and that allowing it to expire will cost the nation tens of thousands of jobs.
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