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News Releases

Releases

Thompson & Knight Attorney Roger Askamit says Tax Breaks May Be Gone With the Wind
 
October 26, 2012 7:48 am

With federal tax incentives supporting the development and production of wind energy set to expire at the end of the year, there is a new level of uncertainty about the industry's future. According to one study, at least 37,000 jobs could be lost next year without an extension of the tax breaks, which the wind energy industry relies on to gain a competitive edge and improve technology. "Some renewable energy incentives that have been in place for the past 20 years may be going away or be greatly limited," says Roger Aksamit in the Houston office of Thompson & Knight. "Congress will face pressures to reduce the deficit regardless of the election outcome and views on energy policy, and it's already projected that these breaks will be cut in half over the next four years." Texas leads the nation in wind energy, generating about 8.5 percent of the state's electricity and employing some 9,000 people. For more information, contact Barry Pound at 800-559-4534 or barry@androvett.com.


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