Report: Wind Energy Tax Credits Removed from GOP Platform
As the Republican National Convention nears, the party platform is being finalized. Buzzfeed reports that the draft platform removed language pertaining to wind energy tax credits:
“In separate victory for the Romney campaign, language pertaining to wind energy tax credits was removed from the platform. Romney has bucked some members of his party by opposing the tax credits, arguing they run counter to free market principles.
“‘I don’t believe it was specifically mentioned,’ [platform chairman and Virginia Governor Bob] McDonnell said. ‘We did a broad embrace of ‘all of the above’ approach including renewables.’
“‘It’s not in there,’ added platform committee co-Chair [and Nebraska Senator] John Hoeven. ‘It’s again — trying to use all sources of energy with market-based principles.’”
This is a major victory for conservatives, including Heritage Action. Last spring, we sent a letter – along with nearly 30 other conservative organizations – to Congress urging an end to energy subsidies. Unfortunately, many Republicans continue to join Democrats to preserve and expand such market-distorting tax breaks. Some just like the subsidies and others believe ending the taxes breaks will amount to a tax increase.
But that is why you remove the tax break and lower the marginal tax rate, so that there is no net increase. This also evens the playing field, so that all energy sources must compete on their own merits and none are favored due to political correctness or influence.
We are glad to see that not only is the presumptive Republican nominee embracing this free market principle, but that the rest of the GOP will add it to their platform as well.