The White House boasted over the wind energy incentives they were able to include in their Senate fiscal cliff plan. The fiscal cliff budget package approved by the U.S. Senate today will provide a one-year extension of the wind production tax credit.
Extension of renewable energy incentives, the R&E tax credit and other business incentives: The agreement extends tax relief for businesses through the end of next year. This means extending the Production Tax Credit, a key incentive for renewable energy that many Republicans had been trying to end, as well as the Research & Experimentation tax credit. In addition, the agreement extends 50 percent bonus depreciation, a cost-effective temporary measure to support investment and growth. All of these would be extended through the end of 2013.
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