More tax scams in the bill
The fiscal deal cemented Tuesday night includes a one-year extension of tax credits for the wind-energy industry that will cost taxpayers an estimated $12.1 billion.For those small business owners who actually create real jobs this kind of corruption adds insult to injury. The Senators responsible for this corrupt deal should be ashamed if they were capable of such feelings. This is a total waste of tax payer money on inefficient energy that is incapble of competing with real energy.
The extension was part of a tax-extender package that the Senate Finance Committee approved in August and was included in the final package that Congress approved before sending it to the president.
Congressional Republicans and other fiscal conservatives opposed the extension, arguing the deal between Congress and the White House was supposed to include cuts to federal spending, not additional subsidies for alternative-energy programs.
Prior to the vote, Tennessee Republican Sen. Lamar Alexander cited several reasons to end the tax credit – including the cost to taxpayers, putting coal and nuclear energy at an economic disadvantage and wind companies producing just 3 percent of U.S. electricity despite receiving billions in subsidies over the past 20 years.