Colorado U.S. Senator Michael Bennet issued the following statement after a minority of Senators used a procedural vote to block the bipartisan tax extenders bill, which includes a two-year extension of the wind production tax credit (PTC) and investment tax credit (ITC) he helped secure.
“This is yet another example of Washington not doing the work that Coloradans and the American people expect us to do. This tax extenders bill was approved by the Senate Finance Committee with strong bipartisan support. Coloradans and the American people deserve better.
“The wind tax credit is an economic driver for Colorado’s diverse energy industry. It supports thousands of jobs up and down the supply chain. Delaying this extension risks the same type of economic damage we experienced that last time the credit was allowed to expire. We are committed to getting this done and will continue to look for every possible avenue extend the PTC and ITC.”
Colorado generates the sixth highest percentage of power from wind of any state in the nation. It is home to several major wind energy developers and wind turbine manufacturing facilities, employing upwards of 5,000 workers statewide.
Nationally, a permanent expiration of the wind production tax credit could cost as many as 37,000 jobs, according to the American Wind Energy Association.