IRS move means more tax dollars for wind power
Here goes government again picking winners and losers.
Check it out:
The Internal Revenue Service adjusted the Wind Production Tax Credit for inflation this week — an increase that will cost taxpayers $545 million dollars, according to the Institute for Energy Research.
“In one fell swoop, the IRS gave wind energy more than twice the amount President Obama wants for his proposed energy security trust in a single year,” said IER senior vice president Daniel Kish.
The IRS adjusted the tax credit for wind power upward from 2.2 cents to 2.3 cents, a percentage increase higher than the latest inflation numbers released by the Bureau of Labor Statistics for the last twelve months up to February 2013.