Today, Governor Mitt Romney announced his opposition to the Wind Production Tax Credit (PTC), which is scheduled to expire at the end of 2012 without a Congressional vote to extend it. The Wind PTC is just one of many energy subsidies that Congressman Mike Pompeo (KS-04) has been working to eliminate from the tax code. His bill, The Energy Freedom and Economic Prosperity Act (H.R. 3308), would end all energy tax credits and turn that savings toward lowering the corporate tax rate. Pompeo's revenue-neutral bill carries the support of Americans for Prosperity, Americans for Tax Reform, Club for Growth, Council for Citizens Against Government Waste, Freedom Action, Heritage Action, National Taxpayers Union, 60 Plus Association and Taxpayers for Common Sense.
Pompeo issued the following statement on the heels of Governor Romney's announcement:
"For the better part of my first term in Congress, I have been working to halt the practice of using taxpayer dollars to pick winners and losers in our energy markets. I'm thankful for Governor Romney's strong stance in favor of ending the 20-year-old Wind Production Tax Credit this year. The Solyndra scandal has demonstrated that taxpayers must no longer be forced to subsidize these industries. When the government bets on these energy technologies, it typically selects the most unaffordable energy leading to unnecessarily higher energy prices for all Americans. Governor Romney is right to call for an end to these policies today, and I support his leadership and his decision wholeheartedly," stated Pompeo.