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US: Congress avoids fiscal cliff

2013-01-02 13:12:00| Daily apparel & textile news and comment - from just-style.com

The US Congress has reached an agreement with the White House to avoid the "fiscal cliff", a combination of tax increases and across-the-board spending cuts set to come into effect from the beginning of January, which were threatening to push the country into recession.

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'Fiscal cliff' deal edges wind energy industry back from the precipice

2013-01-02 11:16:00| Climate Ark Climate Change & Global Warming Newsfeed

BusinessGreen: The dramatic Congressional negotiations to avert the so-called 'fiscal cliff' crisis ended yesterday with a major boost to America's wind energy industry in the form of an extension of the crucial Production Tax Credit (PTC) for wind farm developers. The bill, which also extends tax cuts for all but the richest Americans and again delays spending cuts, provides a year-long extension to both the PTC and Investment Tax Credits aimed at offshore and community-owned wind energy projects. It ensures...

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Wind energy tax credits survive as Congress passes fiscal cliff deal

2013-01-02 10:59:00| Climate Ark Climate Change & Global Warming Newsfeed

Gigaom: Congress approved a fiscal cliff deal on Tuesday and in it included an extension of the wind energy tax credits for wind projects built in 2013. The wind energy industry is breathing a sigh of relief and says 37,000 jobs will be saved. The wind energy industry in the U.S. breathed a sigh of relief as Congress passed a fiscal cliff deal on Tuesday that included an extension of the wind energy tax credits for wind projects that start in 2013. The wind energy tax credits - which began in the early...

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'Fiscal Cliff' Deal Gives Wind Energy Tax Credit 1-Year Lifeline

2013-01-02 07:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Desert Sun: A one-year extension of a key tax credit for the wind industry made it into the fiscal cliff deal the U.S. Senate and House passed on Tuesday. The tax credit, which has been a major driver for wind development across the U.S. over the past two decades, is worth 2.2 cents per kilowatt-hour of energy produced by new wind installations for their first 10 years of operation. A White House news release confirmed that the production tax credit extension is included in the Senate package that the...

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