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Posted: Oct 08, 2015 9:06 AMUpdated: Oct 08, 2015 9:10 AM

Lankford Introduces Bill Aimed to Save Taxpayer Dollars

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Diane Coston

U.S. Senator from Oklahoma, James Lankford, introduced the PTC Elimination Act on Wednesday, which would phase out federal renewable energy tax credits by 2026. Lankford said the PTC was created as part of the Energy Policy Act in 1992. Now it's costing taxpayers money that could be used elsewhere.

Similar proposals have been estimated to save close to $10 billion during a ten year period. Research shows that these tax savings would be passed on to American businesses and applied to corporate tax rates. Opponents of H.R. 1901 say it will reduce private capital investments in U.S. wind projects. 


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