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  • bluecheese4u bluecheese4u Jul 30, 2012 8:30 PM Flag

    Romney will let wind energy tax credit expire, aides say

    Romney will let wind energy tax credit expire, aides say

    Comments (19)

    7/30/12 6:31 PM EDT

    Iowa is set to play a major role in an election that will likely be close electorally, and this move by Mitt Romney's campaign could have implications there and in a few other key states, via the Des Moines Register:

    The lines are now drawn on a political hot button in Iowa: a lucrative tax break for wind energy.

    Mitt Romney is against it, President Barack Obama favors it – opposing stances that could have political and economic implications in Iowa, which has more wind energy jobs than any other state in the nation.

    The wind production tax credit is big deal because it creates the market for more turbines and towers.

    Advocates for the tax break say jobs would be at risk if it disappears. Critics of the tax break, which will cost the federal government $1.6 billion this year, say it’s time for energy producers to make it on their own without government subsidies.

    Romney aides definitively spelled out the GOP presidential candidate’s position in a statement this afternoon.

    “He will allow the wind credit to expire, end the stimulus boondoggles, and create a level playing field on which all sources of energy can compete on their merits,” Shawn McCoy, a spokesman for Romney’s Iowa campaign, said in the statement. “Wind energy will thrive wherever it is economically competitive, and wherever private sector competitors with far more experience than the president believe the investment will produce results.”

    The position puts Romney at odds with in-state allies like GOP Gov. Terry Branstad.

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