Wind industry spending is slowing in anticipation of the tax break’s expiration, in part because facilities must begin producing energy by Dec. 31 to qualify for the credit.
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June 9, 2012 in Money News
Republicans in the U.S. House of Representatives are considering splitting up a package of miscellaneous tax breaks, potentially making it tougher for items with less support to survive alongside more popular provisions.
Tax breaks with broad bipartisan support could be pulled from a group of dozens of items and be passed in smaller groups, said Representative Charles Boustany, a Louisiana Republican on the Ways and Means Committee.
"I think it's very smart to break it up," he said.
House Republicans have been examining the so-called tax extenders, which include breaks for corporate research, investments in low-income communities and renewable energy.
Congress should no longer rubber-stamp those items and extend them automatically, said Representative Patrick Tiberi, an Ohio Republican who led a hearing today in Washington on the expiring breaks.
Read more: Money News
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