“We applaud the Senate for adding the Cantwell-Ensign amendment to the
housing stimulus bill. This package will help finally push extensions
of crucial renewable energy and energy efficiency tax incentives over
the finish line.
The emerging clean energy
industries, like wind and solar power, are starting to solve global
warming and our energy problems, while creating jobs that help the
economy and our environment. Unfortunately much of the federal support
for these industries, namely the renewable energy production tax credit
and the solar investment tax credit, are set to expire at the end of
this year. We can’t afford to wait for the next president to right our
course—there are too many important projects hanging in the balance and
too many jobs at stake. Without a timely renewal of the renewable tax
credits, for example, a study by Navigant Consulting predicts a
dramatic decline in investment, as much as $19 billion, and the loss of
approximately 116,000 jobs.
The clean energy
incentives included in this bill would not only stimulate the economy
in the short-term by continuing job creation and spurring investment,
but would also help solve global warming and promote long-term
development and growth in the clean energy technology industry.
We urge the House to quickly pass, and the President to sign, these overdue extensions.”
