Romney Will Allow Wind Tax Credit To Expire, Costing 37,000 Jobs | Mitt Romney has officially endorsed risking thousands of jobs by letting the production tax credit (PTC) for wind expire, the Des Moines Register reports. Until this point, the campaign has evaded exactly when Romney would want to see the PTC end. Romney’s Iowa spokesperson Shawn McCoy clarified: “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. 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 industry could lose up to 37,000 jobs with the tax credit’s expiration at the end of 2012, affecting major wind states like Iowa. Still, Romney isn’t opposed to all tax breaks: He supports increasing them when it comes to the oil industry and richest Americans.
GOP Rep. Tom Latham (R-IA) called on Romney tonight to reconsider his position:
I’m disappointed that the statement by Governor Romney’s spokesperson shows a lack of full understanding of how important the wind energy tax credit is for Iowa and our nation. It’s the wrong decision. Wind energy represents one of the most innovative and exciting sectors of Iowa’s economy.