The following excerpt is from an article that originally appeared on Hit and Run
Carsten Medom Madsen/DreamstimeChances are fading fast that tax reform will roll back a wasteful energy subsidy.
The Tax Cuts and Jobs Act, passed by the House last week, promised to save about $12.3 billion over the next decade by scaling back a “production tax credit” mostly used by wind energy producers. It was a tepid but welcome change to a program that has far outlived whatever usefulness it might have had. Sadly, even this marginal reform seems to be too much for Senate Republicans, who have left the credit untouched in their version of the bill.
“This is how government grows,” says Veronique de Rugy, a researcher at George Mason University’s Mercatus Center and a regular Reason columnist. “It concentrates benefits on a few winners, and it spreads the cost on a large number of losers.”
In 1992, the Renewable Electricity Production Tax Credit gave renewable energy producers a 1.5post was originally published on this site