Thursday, January 03, 2013

Wind Energy Tax Credits Extended

By the way, the fiscal cliff legislation just passed includes an extension of the wind energy tax credit -- "a tax credit of 2.2 cents/kWh that is applicable to power generated from wind farms for the first 10 years from the start of operation."

It also a total of $76 B in corporate tax credits, so they'll be no whining about special green energy boondoggles....
General Electric and Citigroup, for instance, hired Breaux and Lott to extend a tax provision that allows multinational corporations to defer U.S. taxes by moving profits into offshore financial subsidiaries. This provision -- known as the "active financing exception" -- is the main tool GE uses to avoid nearly all U.S. corporate income tax.

Liquor giant Diageo also retained Breaux and Lott to win extensions on two provisions benefitting rum-making in Puerto Rico. (Washington Examiner)
These days our entire government is a boondoggle.

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