On Tuesday, t he U.S. Senate started reviewing the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act, that would renew more than $80 billion in expired tax credits for two years, including the wind production tax credit (PTC) and investment tax credit (ITC).
Yesterday, the vote on further advancing the bill was 53-40, as Republican Senators used a procedural vote to block the bill, saying that they were not given an option to offer amendments.
Democratic Senator Ron Wyden, Chairman of the Senate Finance Committee and the sponsor of the bill, said that he will discuss potential changes with the Republicans and bring back the bill to the Senate floor as early as next week, Bloomberg informs.
Senator Ron Wyden, who sponsors the bill , stated: “Today the Senate voted to punish innovators, punish small businesses, punish homeowners who are underwater with their mortgages, punish returning veterans looking for jobs, and punish students already struggling to pay for college tuition.
“Despite today’s actions, the EXPIRE Act continues to be critical and timely legislation that we have to get done. And as I have said before, I continue to be open to narrowly related amendments similar to those added in Committee that strengthen the bill.
“In terms of next steps, I am pushing ahead today ‒ working with my colleagues on both sides of the aisle ‒ to find a path forward.”
On April 3, the Finance Committee passed the EXPIRE Act with a strong bipartisan vote.
After the bill was blocked, Colorado U.S. Senator Michael Bennet stated: “Nationally, a permanent expiration of the wind production tax credit could cost as many as 37,000 jobs, according to the American Wind Energy Association.”
The wind production tax credit (PTC) and investment tax credit (ITC) extension would let wind energy developers qualify for the tax credits if they start construction on their wind projects by the end of 2015. The American Wind Energy Association (AWEA) has called the public to urge their Senators to support the EXPIRE Act.