On August 2, 2012, the Senate Finance Committee passed a one-year extension to the wind energy tax credit. The Senate Republicans took a stand against their Presidential hopeful Mitt Romney who claimed a few days ago that he was not in support of this tax credit. The Wind Energy Tax Credit is becoming a big topic that has split the presidential candidates with President Obama supporting it and Romney opposing it. The Committee added the $3.3 billion tax break for wind into the suite of tax breaks that were passed on the 2nd. Two Republican candidates stood up on this debate because of the fact that the wind industry is blossoming in their states of South Dakota and Iowa. The overall tax package, with the wind energy tax credit included, passed in the committee 19-5.
To read more on this topic:
- New York Times: Senate Panal Passes Extension of Wind Energy Tax Credit
- Des Moines Register: Wind Energy Tax Credit Splits Obama, Romney
- Business Week: Baucus Adds One-Year Extension of Wind Tax Credit to Plan