Oversight Hearing to Explore Future of Wind Energy Production Tax Credit

WASHINGTON – The House Oversight and Government Reform Subcommittee on Energy Policy, chaired by Rep. James Lankford, R-Okla., will convene on Wednesday, October 2nd for a hearing entitled, “Oversight of the Wind Energy Production Tax Credit.”

The hearing will examine whether the Production Tax Credit (PTC) is still necessary to support the wind energy industry. Over the last decade, wind energy consumption has increased dramatically, growing by 1,082% between 2003 and 2012. Furthermore, the latest PTC extension passed in January 2013 significantly expanded eligibility standards for the costly tax credit. Previously, in order to be eligible for the PTC, wind facilities had to be producing energy; now, a facility must simply “begin construction” to qualify. The tax credit, which is overseen by the Internal Revenue Service, is set to expire in January 2014 unless Congress passes another extension.

With the federal government currently at a standstill over budget negotiations, it is imperative for Congress to continue to root out and address wasteful spending of taxpayer dollars. Last year’s one-year PTC extension, which was passed as part of the debt crisis negotiations and cost taxpayers $10 billion, is exemplary of the type of program which requires careful assessment and review before it is extended again.

Hearing Details:

Wednesday, October 2nd

“Oversight of the Wind Energy Production Tax Credit”

Subcommittee on Energy Policy, Health Care and Entitlements, Chairman James Lankford (R-OK)

9:30 a.m. in 2154 Rayburn House Office Building and streaming online at oversight.house.gov

** PLEASE NOTE: This hearing will still continue as planned. **

Witnesses:

Mr. Curtis G. Wilson

Associate Chief Counsel, Passthroughs and Special Industries

Internal Revenue Service

Robert J. Michaels, Ph.D.

Senior Fellow

Institute for Energy Research

Professor of Economics

California State University, Fullerton

Mr. Rob Gramlich

Senior Vice-President for Public Policy

American Wind Energy Association

Mr. Dan W. Reicher

Executive Director

Steyer-Taylor Center for Energy Policy & Finance

Stanford University