David Burton Tells North American Windpower PTC Extension is Needed
Despite the U.S. Senate’s failure to pass a bill that would extend the production tax credit (PTC), Akin Gump tax partner David Burton thinks the legislation will eventually pass both houses of Congress, though probably not until after the midterm elections.
Burton tells North American Windpower that after the elections in November, “these political grandstanding votes over amendments unrelated to the tax extenders will be over, and during the lame duck session, politicians will be willing to do the right thing for the country and pass the extenders.”
Without the PTC, Burton thinks U.S. factories and jobs are risk, as it could prove challenging for plants that manufacture wind turbines, for example, to export parts and maintain their job numbers. “It’s not really feasible,” he says, “because transportation costs make it uncompetitive.”