Bill includes renewal of the production tax credit (PTC) and investment tax credit (ITC) as part of an $80bn package of about 50 tax breaks that lapsed 31 December.
A group of US senators has blocked the bi-partisan tax extenders bill, which includes a two-year renewal of the wind production tax credit (PTC) and investment tax credit (ITC).
The Republican senators complained they were prevented from making amendments and used a procedural vote to kill for now the EXPIRE Act, an $80bn package of about 50 tax breaks that lapsed 31 December 2013.
Colorado Senator Michael Bennet denounced the vote, saying: “Delaying this extension risks the same type of economic damage we experienced that last time the credit was allowed to expire. We are committed to getting this done and will continue to look for every possible avenue to extend the PTC and ITC.”
Oregon Democratic Senator Ron Wyden, who introduced the bill, said he would try to bring it back to the Senate as soon as next week.
The Republican-controlled House of Representatives is also reviewing tax legislation.
