Obama Wants More Clean Energy Tax Credits
President once again calls on Congress to invest in clean energy.
Compiled by staff
Published: Aug 16, 2010
Last week, when President Obama signed into law the Manufacturing Enhancement Act of 2010, he asked for a bipartisan spirit on clean energy legislation. Specifically, the President asked Congress, once again, to invest $5 billion in clean energy manufacturing tax credits. The President said, "I believe that if an American company wants to innovate, grow, and create jobs right here in the United States, we should give them the support they need to do it."
To date, more than 180 clean energy projects in over 40 states have received $2.3 billion in tax credits. In all, more than 500 qualified applications for $8 billion in tax credits was received. The tax credits provide 30% of the capital necessary for, what the President called worthy endeavors. For every dollar the Federal government invests, more than two private sector dollars are leveraged.
President Obama said the nation that wins the race for the clean energy economy will lead the 21st century economy. He says the U.S. will win this if we move forward free of politics, focused on just what it takes to get the job done.
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