Republican U.S. Sen. Chuck Grassley says the Senate will soon vote on the long-delayed tax extenders bill. The legislation groups more than 50 tax breaks, including wind energy incentives.
Because Iowa is a leader in wind energy production, Grassley has been vocal on the need to extend the tax credits. But Grassley says the bill doesn’t go far enough.
"It’s got to pass and I think will pass, but it’s only going to be passing for one year, so it’s not a very good thing for wind energy," Grassley says. "You know, two or three weak extensions for wind energy is nothing at this point."
Critics of the $42 billion bill say that extending tax credits on a year-to-year basis creates instability. Annual uncertainly prevents multi-year planning, thereby hindering innovation.