Republicans in US Senate oppose phasing out PTC

When the Vestas share took a dive last week due to concerns about deterioration of the US tax scheme for wind, it may have been in vain. Trendsetting Republican senators are now going against Trump's opposition of the PTC.

Photo: Frank Boutrup Schmidt/Vestas

Several Republican members of the US Senate Finance Committee have stated their opposition against phasing down the key tax credit PTC which goes to fields including wind power on the US market, reports Bloomberg, citing Senate discussions about the ongoing debate for tax reforms.

This comes as good news for Vestas, which took a major dive last Friday when it emerged that a big reduction of the PTC scheme was included in the proposal for tax reform in the US House of Representatives.

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