FOR IMMEDIATE RELEASE: 30 January 2008
Contact: Josh Dorner, 202.675.2384
Senate Stimulus Plan to Include Green Jobs, Energy Provisions
Renewables Tax Incentives Key to Thousands of Jobs, Strong Growth
Washington, D.C.--After a bipartisan push by more than 40 Senators, the
Senate Finance Committee has included key green jobs and renewable energy
incentives in its version of the economic stimulus package.* The $5.5
billion package includes short-term extensions of key renewable energy tax
incentives due to expire at the end of 2008--including the Production Tax
Credit (PTC), Investment Tax Credit (ITC) for solar, clean energy bonds,
and other measures designed to promote energy efficiency. After being
approved 14 to 7 in today’s Finance Committee markup, the package is headed
for a final vote on the Senate floor as soon as possible.
A recent study by the Blue-Green Alliance shows that a strong investment in
renewable energy could create over 820,000 new jobs and bring billions in
economic growth. More information can be found at
www.sierraclub.org/bluegreenjobs.
Statement of Carl Pope, Sierra Club Executive Director
"Senators from both sides of the aisle have lined up in support of this
measure because they understand that a strong renewable energy industry is
essential to a strong economy and a clean environment. This industry is
running white hot and provides a beacon of hope in these times of growing
economic darkness. These incentives have already helped to create tens of
thousands of green collar jobs, revitalized communities, and stand to
create hundreds of thousands more.
"These incentives put us on the road toward the clean energy future by
jumpstarting the renewable energy industry but we will soon run out of gas
if these incentives are allowed to expire.
"As recent history demonstrates in sharp relief, failing to extend these
key incentives immediately will stifle this important industry, result in
the cancellation of clean energy projects nationwide, throw thousands of
hardworking Americans out of work, and stop the march of clean energy as
the need to fight global warming becomes increasingly urgent. Letting
these incentives expire will also put America further behind foreign
competitors at a time when we are just starting to see the power of the new
energy economy as it takes hold and brings jobs and clean energy to
communities across the country.
"Similar renewable energy incentives have been included in past economic
stimulus bills and the specific provisions included in this package more
than meet the test of timely, targeted, and temporary.
"We urge the full Senate to quickly approve this package in order to send
it to conference with the House and then to the President’s desk as soon as
possible. Doing so will ensure that America’s renewable energy industry
can continue to power forward toward the new energy future and provide
today’s troubled economy with a much-needed lift."
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Background:
*Senators who have expressed support for the inclusion of the renewable
energy incentives include: Cantwell, Snowe, Wyden, Smith, Klobuchar, Kerry,
Sununu, Sanders, Dole, Boxer, Johnson, Allard, Salazar, Mikulski, Stabenow,
Murray, Dorgan, Brown, Bayh, Clinton, Collins, Specter, Menendez, Thune,
Feingold, Dodd, Levin, Obama, Brownback, Coleman, Murkowski, Feinstein,
Schumer, Stevens, Lautenberg, Leahy, Akaka, Kohl, Roberts, Grassley,
Bingaman, and Domenici.
Two concrete examples of renewable energy creating jobs:
Games and Pennsylvania--Many areas of Pennsylvania have been decimated by
the collapse of the steel industry. Gamesa, a wind turbine company, has
invested tens of millions of dollars in three factories in Pennsylvania,
beginning in Fairless Hills. These factories provide hundreds of
Pennsylvanians with good-paying, union jobs.
Maytag and Iowa--After being bought by a competitor, Maytag’s headquarters
and factory in Newton, Iowa were shuttered in December--costing the small
Iowa town some 1,800 jobs. TPI Composites of Rhode Island announced in
November that by June it will open factory to manufacture wind turbine
blades for GE. This investment will create 500 jobs and help supply the
Midwest with wind turbines--creating local tax revenues and investment,
providing farmers across the Midwest with the opportunity to receive
thousands in annual income for each turbine on their land, and delivering
clean, renewable energy to millions of consumers.
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