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Bill Containing Stopgap PTC Stalls in Senate; IRS Keeps PTC Level at 1.8 Cents Per Kilowatt-Hour.
Advanced Materials & Composites News, March, 2004
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March 25, 2004 - A corporate tax reform bill containing a stopgap extension of the wind energy production tax credit (PTC - through 12/31/04) became bogged down in the Senate this week over unrelated issues involving overtime pay for workers. After failing to gain the 60 votes needed to limit debate and move forward on the corporate tax bill, Senate Majority Leader Bill Frist (R-Tenn.) chose to stop action on that bill rather than be forced to allow a vote on Sen.
Tom Harkin's (D-Iowa) overtime pay amendment. The upshot is that a key avenue for gaining a PTC extension this ...
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