Schakowsky Introduces Bill To Make Renewable Energy Tax Credit Permanent

By Progress Illinois.

U.S. Rep. Jan Schakowsky (D-IL,9) reintroduced federal legislation Friday seeking to make the Renewable Energy Production Tax Credit (PTC) permanent.

The PTC, which supports development of renewable energies, is currently a temporary measure and requires renewal from Congress.

The "Prioritizing Energy-Efficient Renewables (PEER) Act," which Schakowsky first introduced back in 2013, would permanently extend the PTC and also end three oil and gas industry tax credits, including the "tax credit for intangible drilling costs, the domestic manufacturing tax credit for oil and gas, and the percentage depletion credit for oil and gas wells," according to the congresswoman's office.