FOR IMMEDIATE RELEASE: April 10, 2008
CONTACT: Josh Dorner, 202.675.2384
Sierra Club Cheers Senate Action on
Clean Energy Economic Stimulus Measure
Bipartisan Senate Majority Votes to Extend
Key Renewable Energy Tax Incentives
Washington, D.C.—Today the Senate voted by a margin of 88 to 8 to attach
the Cantwell-Ensign Clean Energy Tax Stimulus Act (S.2821) to the housing
legislation currently being considered by the Senate. The Cantwell-Ensign
legislation would put into place short-term extensions of key renewable
energy tax incentives currently in danger of expiring at the end of 2008,
including the Production Tax Credit and Investment Tax Credit. After
final passage by the Senate the housing legislation will move to House for
consideration.
Statement of Melinda Pierce, Assoc. Director of National Campaigns, Sierra
Club
"The Senate’s action today recognizes the urgency of the situation and
underscores the strong, bipartisan support for extending these crucial tax
incentives. It is essential that Congress finalizes an extension of these
critically important incentives for the wind and solar industries
immediately. Failing to extend them immediately will deal a crippling
blow to the rapidly growing clean energy economy.
"Failing to extend these incentives would not only dim a bright clean
energy future, it would snuff out one of the few bright spots in these
grim economic times. As news broke just this week that the economy has
shed nearly 250,000 jobs in the first quarter alone, it is clear that we
cannot afford to stifle the renewable energy industry. Projects are
already in danger of being canceled and over 100,000 hardworking Americans
in the wind and solar industries alone could be thrown out of work if
Congress doesn’t act soon.
"We already know that making a serious commitment to clean, renewable
energy could fuel tens of billions of dollars in economic growth and
create over 820,000 new manufacturing jobs across the country. We also
know that achieving these goals will be impossible unless we extend the
current incentives without delay in order to avoid turning today’s green
energy boom into tomorrow’s clean energy bust, as has happened each and
every time Congress has let these tax incentives expire in years past.
"It would be difficult for taxpayers to find an investment that offers a
better return. This package of incentives will pay us environmental and
economic dividends for years to come.
"We are extremely pleased that the Senate acted so decisively today. The
House has approved similar packages of clean energy incentives on numerous
occasions over the past few months and we will continue to work with our
allies on that side of the Capitol to bring this important measure across
the finish line as soon as possible."
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