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A four-year extension of the production tax credit for renewable energy projects has been proposed by U.S. Reps. Dave Reichert, a Republican from Washington, and Earl Blumenauer, a Democrat from Oregon.
At least one member of Oklahoma’s congressional delegation, Sen. Tom Coburn, opposes the American Renewable Energy Production Tax Credit Extension Act. Sen. Jim Inhofe and Rep. John Sullivan have not reached a decision on the extension proposal.
“Rep. Sullivan feels that all tax credits — including the production tax credit — deserve a rigorous analysis to determine whether they are a good bet for taxpayers and whether the market needs them,” spokesman Vaughn Jennings said. “With the PTC not set to expire until the end of 2012, he looks forward to analyzing the effectiveness of the credit in meeting its goal of wind generation prior to consideration of any tax extender legislation.”
Inhofe spokesman Matt Dempsey said any extension likely will be part of a package with multiple tax provisions.
“Sen. Inhofe would want to consider the bill in its entirety,” he said.
FROM STAFF REPORTS