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Wind tax credit
Governors from 28 states want Congress to renew a wind energy tax credit due to expire at year’s end. A study by a wind energy group found 37,000 jobs would be lost if the credit expires. The governors contend uncertainty over the credit’s fate already has led to thousands of job losses. Opponents argue it distorts the energy marketplace and leads to higher prices.
Investors pull cash
from stock funds
Mutual fund shareholders are sticking with their recently conservative approach to investing, despite this year’s stock market gains. Industry consultant Strategic Insight reported that $15 billion was withdrawn from U.S. stock funds in October, the eighth month in row of such withdrawals. Bond funds attracted cash for the 14th consecutive month, taking in $30 billion in October.
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