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Grassley Expected to Offer Amendments to Stimulus Package

The Senate Finance Committee will take up the bill.
Compiled by staff 
Published: Jan 27, 2009

The Senate Finance Committee will consider the economic stimulus package on Tuesday. Ranking Member of the committee, Charles Grassley, R-Iowa says he will offer several amendments to strengthen federal efforts to expand production of clean and abundant wind energy.

According to Grassley, his amendments would make the tax credit for wind energy permanent or extend the tax credit for five years. Also, Grassley proposals would maintain the option for producers to take either the production tax credit or investment tax credit for 2009 and 2010. These amendments mirror the bill passed last week by the House of Representatives.

In addition, Grassley said he hopes to extend the carry back to 10 years so that the PTC or ITC can be used against prior income taxes paid by a wind energy company. Grassley says he believes a longer carry back period would help get more wind projects started again.

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