Manufacturing Industry
3-Year Extension of PTC included in Senate Tax Bill to Support Wind Energy.
Advanced Materials & Composites News, May, 2004
May 7, 2004 - The U.S. Senate is on track-but moving slowly-to complete action by the end of May on its version of the corporate tax legislation containing a full 3-year wind energy production tax credit (PTC) extension (through 12/31/06). The corporate tax bill would repeal a tax break for exporters that has been deemed an illegal trade subsidy by the World Trade Organization (WTO).
T The corporate tax bill-also known as the "JOBS" (Jumpstart Our Business Strength) bill, or the FSC-ETI (Foreign Sales Corporation - Export Trade Incentives) Act-is being slowed by an effort to add an extension of unemployment benefits for individuals who have been out of work more than 26 weeks. Key Senators and staff hope to pass the corporate tax bill before the end of...
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