Congress turns its back on American workers

As instructed by Congress, the IRS wrote rules so investors and wind developers would know whether and when a project qualified for the PTC under the new phase out.

Based on these rules, deals were done and billions of dollars in private investment were committed. Factory orders were placed, turbines were built, construction contracts were signed and business certainty, unsurprisingly, spurred business investment, which in turn spurred economic activity in communities across the country. In fact, U.S. wind power added jobs nine times faster than the overall economy last year, and there are now over 100,000 wind workers spread across all 50 states.

Fast forward to Thursday. In a few short sentences, the House Republican tax bill effectively said “sorry, we didn’t mean it. We are going to modify the terms agreement.” Some voices are making the case that this change is merely a clarification and that the agreement has been honored, but here’s the reality: this proposal takes away over one-third of the value of the credit, after deals were already made under a different set of rules.

That is the equivalent of changing the rules at halftime and saying the score from the first half no longer counts. But in this case, it’s not a game; there are over $50 billion dollars that have been committed based on the phase out agreement, and thousands of U.S. jobs that benefit from these projects now at risk.

But this isn’t just about the bottom line—this bill could hurt real American families.

Aww someone is losing his tax credits