Grassley wind credits OK’d by panel

Wind energy tax incentives championed by U.S. Sen. Charles Grassley were approved by the Senate Finance Committee Thursday.

“Renewable energy supports thousands of jobs and generates billions of dollars in investment across the country,” the Republican who is Iowa’s senior senator said in a written statement.

“Public policy continues to help renewable energy develop and generate electricity and fuel from natural resources,” he added. ”It’s good news for the economy and for energy diversity to restore these provisions.”

The wind energy tax credits are part of a larger package of such incentives that now goes to the full Senate for action.

All of the tax provisions in the bill had expired in January, according to an announcement from Grassley’s office. The measure approved by the committee extends those provisions for two years.

The bill enables qualified entities to take the wind energy production tax credit or the wind energy investment tax credit.

The original version of the bill included biodiesel tax incentives that Grassley supports, but did not include the wind energy credits. He successfully amended the bill to include those credits.