Tax Credit Auction, Take 2!

Capitol Currents:

After coming up well short of expectations earlier this fall in an effort to auction off $1.5 million in tax credits, the Oregon Departments of Revenue and Energy will re-open the bidding tomorrow for a second tax credit auction. The first attempt drew few bidders and raised less than one-third of projections.Like the first go-round, the new auction will accept opening bids of $950 for the chance to win a $1,000 tax credit. (That is, for $950 you would get a $1,000 tax credit on your next Oregon income tax return, making it a $50 profit in your favor.) Bidding opens at 9 a.m. tomorrow and runs through December 9.

Read the full article here. Discuss below.

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    If you pay extra for green power and owe any state taxes, you should do renewable energy and SAVE some money rather than support renewable energy and SPEND EXTRA.

    It's simple. And it looks likely that if you bid $950 you'll get a tax credit you can use when you file taxes in 2011 worth $1000.

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