Tag Archives: toomey

Republican Tax Increases: A Centrist Fantasy That Refuses to Die

Mother Jones

Dave Weigel points me to Ron Fournier’s latest column:

As late as a year ago, just a few months after Obama shoved a reelection tax hike down their throats, the GOP leadership was still open to compromise. A budget deal would be hard, but not impossible, to strike. The situation required an able, nimble partner in the White House, a president who could help the GOP leadership reach and sell a deal to their conservative base. In March 2013, I wrote of the GOP: “Don’t mistake a negotiating position for reality. House Republicans tell me they are open to exchanging entitlement reform for new taxes—$250 billion to $300 billion, or approximately the amount that Republican Sen. Pat Toomey of Pennsylvania proposed raising over 10 years under the guise of tax reform.”

The numbers were specific because the possibility of a deal was real. But the White House, quite literally, laughed at it. The president had already bowed to his base, given up on compromise, and damaged his legacy.

I just don’t get this. Are there a few House Republicans who are open to a tax increase? Sure. Probably. Is there even the slightest chance of getting a majority of the GOP caucus to support a tax increase? Of course not. The evidence on this score is overwhelming. John Boehner was never able to get agreement even for the smoke-and-mirrors version of a tax increase, the kind that relies on dynamic scoring and rosy growth estimates. Nor were Republicans willing to accept Toomey’s proposal, even though it was effectively a tax cut, not a tax increase. There’s just plainly never been any chance at all of getting agreement for a proposal that would genuinely, concretely raise revenue.

I’m just flummoxed by this stuff. Whatever else you think of Fournier, he’s an experienced reporter who understands the political landscape. How can he possibly believe this stuff?

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Republican Tax Increases: A Centrist Fantasy That Refuses to Die

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Republicans join Democrats in trying to revive wind energy incentives

Republicans join Democrats in trying to revive wind energy incentives

Shutterstock

The political winds in the nation’s capitol shifted on Thursday in favor of wind energy.

A Senate committee passed a bill that would restore two key tax credits for the wind industry. Both credits have helped spur the sector’s rapid growth in recent years, but Congress allowed them to expire at the end of last year. Uncertainty over whether the incentives would be extended into 2014 was blamed for a startling decline in wind farm construction last year, when just 1 gigawatt of capacity was installed — down from 13 gigawatts the year before.

Thursday’s move by the Senate Finance Committee doesn’t guarantee that the full Senate will support resurrection of the credits, much less the Republican-controlled House of Representatives. But encouraging signs emerged after Sen. Pat Toomey (R-Pa.) tried to kill the credits. He argued that restoring them would amount to picking energy-industry winners and losers and forcing taxpayers to “subsidize inefficient, uncompetitive forms of energy.” (Meanwhile, taxpayers continue a century-long tradition of subsidizing fossil fuels.) CleanTechnica reports on the encouraging bipartisan response to Toomey’s effort:

The PTC [wind energy Production Tax Credit] and the alternate Investment Tax Credit were added overnight to a modified “Chairman’s mark,” after an earlier draft released Monday left them and several other provisions for further negotiation.

They prevailed on a critical 18-6 vote during the committee markup late Thursday morning, on a motion by Sen. Pat Toomey (R-PA) to strip them out. Five Republicans joined the committee’s Democrats in voting down that amendment: Sens. Chuck Grassley (R-IA), John Thune (R-SD), Rob Portman (R-OH), Mike Crapo (R-ID), and John Cornyn (R-TX).

A number of Senators on both sides of the aisle highlighted the success of the PTC and ITC. Grassley spoke at length in favor of the tax credits, and called Toomey’s arguments against their extension “intellectually dishonest,” considering billions of dollars a year in permanent incentives for other forms of energy with which renewable energy competes.

The wind energy industry cheered the development and called on the full Senate and the House to follow suit. “Passage by the full Congress will preserve an essential incentive for private investment that has averaged $15 billion a year into new U.S. wind farms, and create more orders for over 550 American factories in the supply chain,” said Tom Kiernan, chief executive of the American Wind Energy Association.


Source
Renewable Energy Production Tax Credit Gets Important Last-Minute Push, CleanTechnica
Wind tax credit survives Senate Finance markup, The Hill

John Upton is a science fan and green news boffin who tweets, posts articles to Facebook, and blogs about ecology. He welcomes reader questions, tips, and incoherent rants: johnupton@gmail.com.

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Republicans join Democrats in trying to revive wind energy incentives

Posted in Anchor, Energy, Inc., FF, G & F, GE, LG, ONA, PUR, Uncategorized, wind energy | Tagged , , , , , , , | Comments Off on Republicans join Democrats in trying to revive wind energy incentives