House Dems Plug Tax Credits For Wind Energy, Payroll Hikes

Law360, New York (June 27, 2012, 6:37 PM EDT) -- U.S. House Democrats introduced bills Wednesday that would extend an expiring production tax credit for wind energy manufacturers and provide income tax credits for employer payroll increases by yanking tax breaks for the world’s five largest oil companies.

The bills, introduced by Democrats on the House Ways and Means Committee, would extend the wind production tax credit through 2013 and provide 10 percent income tax credit for firms that create new jobs or increase wages in 2012.

The lawmakers said the measures would be paid for...
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