U.S. Representative Earl Blumenauer (D-OR) recently introduced the Wind Powering American Jobs Act (HR 6031) which would extend the production tax credit for wind energy through 2013. The bill would also extend the option for wind project developers to choose a 30 percent investment tax credit until 2014. HR 6031 also includes proposed new rules relating to tax benefits of major integrated oil companies. Specifically, HR 6031 proposes to repeal the dual capacity taxpayer benefits of major integrated oil companies which would then pay for the extensions. HR 6031 has been referred to the House Committee on Ways and Means.

Click here to read HR 6031.