Grassley files amendments to restore wind, biodiesel tax credits
Both measures would amend the Bring Jobs Home Act, which seeks to discourage outsourcing jobs by ending certain tax credits. The wind and biodiesel incentives, popular in Iowa because they benefits industries common to the state, expired last year.
“Renewable energy supports thousands of jobs and generates billions of dollars in investment across the country,” Grassley said in a statement. “If the Senate truly wants to create and retain jobs, restoring clean energy tax incentives should be at the top of the list.”Grassley is not optimistic about his measures, because he does not expect Senate Majority Leader Harry Reid (D-Nev.) to allow any amendments to be considered.
“But I want to draw attention to the potential growth in a sector of the economy that’s right under our noses,” he said. “This area could get a real boost if the majority in Congress chooses to act to restore these tax incentives.”
Both credits were in a package of tax measures that failed in the Senate in May.
The wind credit in particular has been controversial, as it was meant as a temporary measure to help the wind energy industry to develop, but it was on the books for more than two decades.