By David Burton, JDSupra.com.
On October 2, the Congressional Research Service (CRS) published an overview of the production tax credit (PTC). The report is available here. It contains a helpful summary of the history of the PTC and an insightful discussion of the PTC and the alternative minimum tax.
The report’s only shortcoming as discussed below is not applying a particularly critical eye to either a cited study regarding tax incentives for renewables from the National Academy of Sciences that employed a questionable methodology or to President Obama’s proposal to replace the investment tax credit (ITC) for solar and other technologies with the PTC.