Senate fails to pass 1-year PTC extension

Washington, D.C., Feb. 11, 2008 — The key vote on the Amendment to Economic Stimulus bill (H.R.5140) that would have extended the Production Tax Credit (PTC) for an additional 1-year fell 1 vote short of reaching the 60 votes needed to overcome a filibuster.

The PTC provides a tax break for renewable energy projects and is seen by supporters as a major incentive for renewable energy investment.

In a procedural move, Sen. Harry Reid (D-NV) changed his vote from “yes” to “no” in order to bring up the legislation later. The final count on the vote was 58-41.

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