On 7/14/23 10:29 PM, ScottW wrote:
President Joe Biden's Interior Department last week approved what
will be the nation's largest offshore wind farm located about 13
miles off the coast of Atlantic City. One day later, New Jersey
Democratic governor Phil Murphy signed a bill that provides
Denmark-based company Orsted, which will build the wind farm, with
lucrative tax breaks. While that money was supposed to go to
ratepayers to alleviate higher costs, the measure allows the foreign
company to pocket the cash. As a result, the state's Division of Rate Council—an independent group that represents New Jersey
ratepayers—says the project will raise rates.
"It should be clear that statements claiming that this bill will not
cost ratepayers additional costs are inaccurate," the council said in
a statement. Republican congressman Chris Smith (R., N.J.) similarly
said the wind farm "will force residents—who are already being
crushed by an unfair tax burden and an exorbitant cost of living due
to high inflation—to pay more for their electric bills."
Yes, that Jersey shore high cost of living.
Nice job of slanting facts. Your (unnamed as always) cite about New
Jersey legislation puts Biden up front followed by "Democratic governor
Phil Murphy." It's like the bill originated in the Interior and was
signed by Murphy with no state legislative action.
Background:
https://www.inquirer.com/news/nj-offshore-wind-tax-credits-whales-20230630.html
"New Jersey lawmakers narrowly approved a controversial bill Friday that
would allow offshore wind developers to take advantage of federal tax
credits that an existing state law prohibits them from accessing...
The bill was contentious among offshore wind opponents because money
from the tax credits was originally set to be returned to the state’s
energy consumers."
Also better:
https://newjerseymonitor.com/2023/06/30/lawmakers-pass-controversial-bill-to-give-tax-break-to-offshore-wind-developer/
Hed: Lawmakers pass controversial bill to give tax break to offshore
wind developer
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