AC Joins Massive Coalition Against Wind Subsidies
A broad coalition of national, state, and local citizen groups has sent a letter to Congress urges the expiration of the so-called Production Tax Credit (PTC) for industrial wind power.
The letter, which American Commitment proudly signed, says:
As Nobel laureate economist Milton Friedman noted, "The infant industry argument is a smoke screen. The so-called infants never grow up." The wind PTC, like other green energy incentives, is a prime case in point. The PTC was created in 1992 to get the wind industry off the ground. Yet 20 years later, we have little to show for it. We’re still providing a $5 billion special tax break each year for an industry that supplies just over 2% of our power.
It's a bad deal for taxpayers and it's based on bad science. Our friends at the Alliance for Wise Energy Decisions have a lot more info on their web site: PTCFacts.info.
The full letter is below.